This bill proposes the repeal of the Liquor Excise Tax Act, the distributions of the Liquor Excise Tax, and the Local DWI Grant Program Act, while also making necessary conforming and technical changes to existing tax laws. Specifically, it amends Section 7-1-2 NMSA 1978 to remove references to the Liquor Excise Tax Act and replace it with the Local Liquor Excise Tax Act, along with other adjustments to the list of applicable tax acts. Additionally, it modifies the requirements for the transfer, assignment, sale, lease, or renewal of liquor licenses by eliminating the need for compliance with the liquor excise tax, focusing instead on the gross receipts tax.

The bill also updates the regulations surrounding direct wine shipment permits, removing the requirement for permit holders to register and pay liquor excise taxes, while maintaining the obligation to pay gross receipts taxes. Furthermore, it repeals several sections of the New Mexico Statutes that are no longer relevant due to the elimination of the liquor excise tax. The provisions of this act are set to take effect on July 1, 2025.

Statutes affected:
introduced version: 7-1-2, 7-1-82, 60-6A-11.1