New Mexico “Open for Business” — just kidding

According to Council On State Taxation (COST) New Mexico ranks 46th lowest (see Table 4, page 8) out of the 51 (states and DC) for effective tax rate on business in FY04. Since the GRT rate has gone up substantially over the past year, our business friendliness is likely to erode even further. So much for being open for business in NM.