New Mexico Governor Signs Covid-19 Relief ‘Tax Holiday’ Into Law

New Mexico bars and restaurants will get a four-month reprieve from paying gross receipts taxes under a “tax holiday” law signed Wednesday by Gov. Michelle Lujan Grisham.

• The measure (SB 1) aims to provide relief to food and beverage businesses affected by the coronavirus pandemic.
• The changes also include a $600 personal income tax rebate for people who make up to $31,200 and joint filers earning up to $39,000.
• The law acknowledges that the pain of the pandemic “has been spread unequally,” the Democratic governor said in a statement.