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The State of New Mexico and the Albuquerque metro area have a favorable tax environment and aggressive incentives to promote the relocation and expansion of business. Governor Susana Martinez signed into law major changes to New Mexico's corporate income tax structure brought about by the 2013 Legislative session.

  1. An optional single sales factor for manufacturers. We are now on path for a five year phase-in to 1000% This will dramatically reduce the state corporate income tax liability for most manufacturers.
  2. Eliminated the throwback rule, which removes a penalty to existing manufacturers and an obstacle to new investment.
  3. Approved a five year phased reduction of corporate income tax top rate of 7.6%, down to 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.