Featured News
New Mexico Approves Optional Single Sales Factor and Corporate Income Tax Cut
Governor Susana Martinez signed into law major changes to New Mexico's corporate income tax structure brought about by the 2013 Legislative session.
- An optional single sales factor for manufacturers. We are now on path for a five year phase-in to 100%, beginning at 50% in taxable year 2014. This will dramatically reduce the state corporate income tax liability for most manufacturers.
- Eliminated the throwback rule, which removes a penalty to existing manufacturers and an obstacle to new investment.
- Approved a five year phased reduction of corporate top rate of 7.6%, starting in taxable year 2014. For taxable years beginning on or after January 1, 2018, the top rate will be 5.9%.
These important measures come on top of action last year by the Governor and Legislature, which approved a phase-in for the elimination of Gross Receipts Taxes being charged on consumables used in the manufacturing process, so there will no longer be GRT imposed on industrial gases or electricity, for example.
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Albuquerque Ranked Among fDi's American Top 10 Cities of the Future
Foreign Direct Investment magazine from the Financial Times has ranked Albuquerque the ninth top mid-sized city overall among cities in North and South America. Albuquerque was ranked eighth for human resources as well. The ranking was based on business friendliness, cost effectiveness, infrastructure, human resources and economic potential. Read more.
New Mexico Ranked Among Top States Poised to Dominate Drone Market
New Mexico has been named among the Top States Poised to Dominate the Drone Economy according to Fortune. The ranking recognized that the U.S. government (particularly its defense infrastructure) has already deemed New Mexico an important state for technology development and has cultivated an educated workforce. Read more.
HT Micro Celebrates Construction of New Facility
HT MicroAnalytics is celebrating the construction of its new 18,000 square foot manufacturing space at 4301 Masthead. Founded as a Sandia National Laboratories spinout in 2003, the company develops microfabricated switches for military and commercial customers. HT Micro will require the addition of five employees and will utilize the New Mexico Job Training Incentive Program. Read more.