This bill amends the Liquor Excise Tax Act in New Mexico by increasing the rates of the liquor excise tax imposed on wholesalers selling alcoholic beverages. Specifically, the tax rates for spirituous liquors will rise from $1.60 to $1.92 per liter, for beer from $0.41 to $0.49 per gallon, for wine from $0.45 to $0.54 per liter, and for fortified wine from $1.50 to $1.80 per liter. Additionally, the tax on cider will increase from $0.41 to $0.49 per gallon. These adjustments aim to update the tax structure to reflect current economic conditions and consumption patterns.

The bill also maintains existing provisions regarding tax liabilities for wine transfers between winegrowers and wholesalers, ensuring that the tax liability remains with the transferor unless the wine is transferred for the transferee's use or resale. The effective date for these changes is set for July 1, 2025.

Statutes affected:
introduced version: 7-17-5