New Mexico has taken the lead in advanced laser technology and directed energy projects, but that leadership may be in danger.
New Mexico charges a special 8% tax on federal directed energy and satellite projects which currently support hundreds of jobs in our state. New Mexico is one of the only states with this unique tax making our local companies and advanced technology workers less competitive than those in other states.
Noting that this tax would hurt New Mexico’s businesses and workforce, a gross receipts tax deduction was passed in 2015 that helped keep jobs in the state. But that deduction is about to expire.
New Mexico’s state legislature MUST extend this deduction that affects our advanced technology sector, or else the state will be at risk of losing contracts and potentially its highly skilled workforce to another state.
Let your local officials know today that you support extending the gross receipts tax deduction and investing in job growth right here in New Mexico.
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