NEW MEXICO (KRQE) – Some tax and fee changes throughout the state are soon going into effect. On July 1, the excise tax rate on cannabis will go up from 12% to 13%. Then every year after, the rate will increase until it reaches 18 percent in 2030.
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The New Mexico Taxation and Revenue Department said sales tax increased in several towns, including Roswell, Texico, Las Cruces, and Portales. Also, workers’ comp fees will go up 25 cents for employers and employees. The 911 emergency surcharge, which funds dispatch operations statewide, is now $1. The telecommunications relay surge is now 1.36%. That revenue will go to the 988 crisis line.