New Mexico Tax Department Announces House Bill 291 Passage to Streamline Tax Code

The New Mexico Taxation and Revenue Department announced the passage of House Bill 291, a tax code cleanup bill that clarifies various tax policies and streamlines the tax code. The bill addresses loopholes in the film tax credit, clarifies the technology jobs and research and development tax credits, and the tobacco products tax, and includes provisions allowing the department to waive interest on tax deadline extensions. [N.M. Tax’n & Revenue Dep’t, Press Release, 02/12/26]

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