LEGISLATION THAT'LL PUT NEW MEXICO'S TAX POLICY ON EQUAL FOOTING WITH SURROUNDING STATES IS NOW LAW. GOVERNOR MARTINEZ ON MONDAY SIGNED THE BILL THAT GIVES BUSINESSES MORE TIME TO REDUCE THEIR TAX LIABILITY IF THEY SUFFER AN OPERATING LOSS. ARIZONA AND COLORADO HAVE SIMILAR POLICIES.
NEW MEXICO'S NEW LAW ALLOWS COMPANIES TO CARRY A NET OPERATING LOSS FORWARD FOR 20 YEARS INSTEAD OF FIVE YEARS TO APPLY IT AGAINST PROFITS AND CUT THEIR INCOME TAX LIABILITY.
