Senate committee to hear bill that could add a local liquor excise tax

New Mexico

SANTA FE, N.M. (KRQE) – A state Senate committee is expected to discuss a new liquor tax law on Friday. Should Senate Bill 85 pass, it would let all New Mexico counties put a local excise tax on liquor.

An excise tax is an extra tax built into the price of the product that is separate from a sales tax. However, to go into effect, it would have to be passed by a majority of voter approval.

Right now, only McKinley County has this kind of excise tax, bringing in an average of $1.3 million a year.

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