KWES NewsWest 9 / Midland, Odessa, Big Spring, TX: newswest9.com | Income tax surcharge under study by NM task force

Income tax surcharge under study by NM task force

Associated Press - November 17, 2009 5:35 PM ET

SANTA FE, N.M. (AP) - Nearly three dozen tax increase proposals to help the state with a budget shortfall are under consideration by a task force formed by New Mexico Gov. Bill Richardson.

The group will submit a report to the governor by Dec. 21, but it won't recommend specific tax measures that should be adopted by Richardson and the Legislature. Instead, the group's report will outline the pros and cons of each measure.

Among the proposals under consideration are personal income tax surcharges on upper income New Mexicans, such as joint filers earning at least $150,000 a year.

The group is looking at whether to reimpose the gross receipts tax on food sales.

The task force meets Thursday in Albuquerque.

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