March 2017 Posts

Washington, DC, March 9, 2017—A study released today examining various tax incentives and tax accounting practices in New Mexico found that the state could gain more than $206 million per year by enacting safeguards common in other states. The study also finds that New Mexico lags behind most other states in making public relevant information about its tax incentive programs.

More than half of the nation’s 50 biggest cities and counties still fail to disclose online even the names of the companies receiving property tax abatements or other costly economic development incentives. Even fewer report incentive-deal outcomes: Only 13 of the 50 localities disclose the number of actual jobs created by one of their key incentive programs.