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NM SB174
Bill
Status
Introduced
1/28/2026
Primary Sponsor
Candy Ezzell
Click for details
AI Summary
- Creates a gross receipts tax deduction for sales of gold and silver coins or bullion in New Mexico
- Deduction applies from July 1, 2026 through June 30, 2031 (five-year sunset provision)
- Defines "bullion" as bars, ingots, or commemorative medallions valued by metal content rather than form
- Taxpayers must report deduction amounts to the department as required
- Annual aggregate cost of the deduction must be included in the state's tax expenditure budget
Legislative Description
Gold & Silver Sale Grt Deduction
Last Action
SCC: Reported by committee to fall within the purview of a 30 day session
1/29/2026
Committee Referrals
Committees1/28/2026
Full Bill Text
No bill text available