by Ray Hayes
Small Business Saturday is one of the biggest and busiest days for small businesses by far. For New Mexico small businesses, it is about to get even bigger. Thanks to Gov. Susana Martinez, a new bill, titled House Bill 70 will now provide a tax holiday (tax reduction or elimination for businesses) for businesses with 10 or fewer employees during the 2018 Small Business Saturday. The tax holiday will be very similar to the one that is provided before the beginning of the school year in the summer and is set to expire in 2020.
Gov. Martinez recently spoke about the bill and the impact it will have on the community. “While I am disappointed legislative leaders once again failed to deliver on their promises to tackle the comprehensive tax reform our state needs to continue competing for jobs and investment, this legislation has the potential to put millions of dollars back into the pockets of our families and small businesses.”