The bill amends the Liquor Excise Tax Act in New Mexico by altering the rates of the liquor excise tax imposed on various alcoholic beverages sold by wholesalers. Specifically, the new rates include an increase for spirituous liquors 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 is raised from $0.41 to $0.49 per gallon. These adjustments aim to update the tax structure to reflect current market conditions.

The bill also clarifies the tax liability for wine transferred between winegrowers and wholesalers, ensuring that the transferor retains tax liability 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