HOUSE JOINT MEMORIAL 34

49th legislature - STATE OF NEW MEXICO - first session, 2009

INTRODUCED BY

Thomas C. Taylor

A JOINT MEMORIAL

REQUESTING THE TAXATION AND REVENUE DEPARTMENT TO ESTABLISH A BUSINESS ADVISORY COMMITTEE.

     WHEREAS, voluntary compliance with tax statutes is the cornerstone of the revenue system that is the lifeblood of state and local governments; and

     WHEREAS, state and local tax policies have profound impacts on the economic viability of New Mexico businesses; and

     WHEREAS, tax statutes are frequently amended and become more complex every year; and

     WHEREAS, legislation is often developed in a brief time span that allows little time for input from affected parties; and

     WHEREAS, information from tax returns is often not available to the public; and

     WHEREAS, information on the detailed operations of businesses is often not available to the taxation and revenue department or legislative staff when legislation and regulations are being developed; and

     WHEREAS, the taxation and revenue department is often unable to meet the need for issuing and updating important regulations and for recommending updates to statutory language; and

     WHEREAS, lack of information and analysis has severely hampered the state's ability to address longstanding issues of importance in the tax system that affect the economy, including pyramiding of the gross receipts tax, participation in the streamlined sales and use tax agreement and combined reporting of corporate income taxes;

     NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF NEW MEXICO that the taxation and revenue department be requested to establish a business tax advisory committee for the purpose of identifying needed changes in New Mexico tax statutes and regulations to improve economic efficiency, fairness, simplicity, compliance and accountability and for the purpose of providing feedback on the department's performance, including the accuracy and timeliness of the department's financial reports; and

     BE IT FURTHER RESOLVED that the taxation and revenue department report to the governor and the interim revenue stabilization and tax policy committee by November 30, 2009 on its progress in implementing this memorial; and

     BE IT FURTHER RESOLVED that copies of this memorial be transmitted to the secretary of taxation and revenue and the director of the legislative council service.

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