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, along with 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. Additionally, it updates the list of applicable taxes under the Tax Administration Act, including the removal of the liquor excise tax from the requirements for liquor license transfers and renewals.

Furthermore, the bill modifies the requirements for direct wine shipment permits by eliminating the need for permit holders to register and pay liquor excise taxes, focusing instead on gross receipts taxes. It also establishes that the effective date for these changes will be July 1, 2025. Overall, the bill aims to streamline the taxation process related to liquor and wine in New Mexico by removing outdated tax structures and simplifying compliance for businesses involved in the sale and distribution of alcoholic beverages.

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