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The last time the city raised its GRT rate was in 2015 when it increased from 7.9375% to 8.3125%, although it has since been lowered to the current rate. "The confusion of this proposal just takes ...
How much money could a tax increase raise in Las Cruces? Faivre said the city could generate about $9 million per year through an ordinance that would raise the tax by 0.2375% and another $11 ...
Businesses are taxed on Nevada gross receipts in excess of $4 million at a rate varying from 0.051% to 0.331%, depending upon economic sector. New Mexico - The gross receipts tax rate varies throughout the state from 5.125% to 8.6875% with local option taxes imposed at the city and county levels, added to the statewide base tax rate of 5%. [9]
At the state level, gross receipts on most types of transactions are taxed at a rate of 5.125%. Local jurisdictions also levy gross receipt taxes at rates that vary around the state. The lowest combined state and local GRT rate, as of 2012–13, is 5.5% in unincorporated Lea County. The highest combined rate is 8.6875%, in Taos Ski Valley.
The tax is imposed on the seller but it is common for the seller to pass the tax on to the purchaser. The state rate is 5.125%. Municipalities may assess an additional gross receipts tax, resulting in rates between 5.375% and 8.8625%. [160] Numerous specific exemptions and deductions apply. The tax may possibly increase depending on the state ...
Jun. 10—New Mexico's economic activity continues to perform vibrantly, with matched taxable gross receipts, or MGTR, at their second-highest level ever, according to a recent report from the ...
In general personal property is not taxed. The taxable value of property is 1/3 of the assessed value. A tax rate of about 30 mills is applied to the taxable value, resulting in an effective tax rate of about 1%. In the 2005 tax year the average millage was about 26.47 for residential property and 29.80 for non-residential property.
Economic indicator increases The University of Illinois Flash Index for December improved to 102.4 from its reading the previous month of 102. Any number over 100 indicates economic growth.Both ...