New Mexico governor OKs aircraft industry tax cut

[Judi Lynn]

Source: Associated Press

New Mexico governor OKs aircraft industry tax cut

By BARRY MASSEY

Associated Press March 3, 2014

SANTA FE, N.M. — Gov. Susana Martinez has signed into law a bill that supporters say will help New Mexico's aviation industry.

The measure will remove the state's gross receipts tax from the sale of commercial aircraft.

The governor signed the legislation on Monday in Roswell where two companies refurbish, maintain and store aging commercial airliners.

With the new law, industry officials say the companies can generate more business because New Mexico will be competitive with states such as Texas and Florida that don't tax commercial aircraft sales. Currently, an airliner stored or refurbished in New Mexico is flown to a tax-free state if it's being sold.


Read more: http://www.sanluisobispo.com/2014/03/03/2953464/new-mexico-governor-oks-aircraft.html#storylink=cpy

[hibbing]

1. hmmm

I'll keep this in mind when I buy my next commercial airplane.

Peace

[bloomington-lib]

2. Hopefully, maybe someday everything corporate will tax-free

[Crowman1979]

3. What's going to happen if their are no more taxes to cut?

Talk about a race to the bottom.

[GeorgeGist]

4. People of NM just got hosed.

[madville]

6. They weren't paying the tax to begin with

So there really isn't any loss, they were selling the refurbished planes from out-of-state locations already to avoid the taxes.

[jtuck004]

5. Oh, for cryin' out loud. Just legalize pot in your state and tax it. No more giveaways.

A little high quality hyrdo would help you compete against the imports, and I bet you make more money than enforcing a relatively stupid law.