State Legislative Update
In the past two years, New Mexico Legislators have proposed taxing nonprofits. One bill proposed taxing nonprofits' gross receipts over $100,000. Although there was disagreement about tax reform measures, many legislatures are saying that tax reform is needed. Your participation in the Nonprofit Financial Outlook Survey will contribute to the creation of a data report to help legislators understand the impact of their proposed tax reform measures.
State revenues are up and New Mexico will have a new governor in 2019. A new governor will come in with ideas and projects to fund. Each special interest group will be attempting to get some of those increased revenues. New Mexico Thrives believes that New Mexico nonprofits have a greater chance of being heard if we speak with a collective voice. Together we can request funding be restored to pre-austerity levels; and allocation of a fair percentage for overhead.
tax cuts and Jobs Act
In addition to reducing the number of people who get a tax benefit for donating, the Tax Cuts and Jobs Act taxes some employee benefits, and changes the rules for Unrelated Business Income Tax.
Join New Mexico Thrives so that New Mexico nonprofits have a collective voice. Become part of a statewide network of nonprofits, linked with a national network of nonprofits. Join to stay informed about critical issues affecting nonprofits.