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LFC starts tax conversation

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By Harold Morgon

The Legislative Finance Committee went to Rio Rancho’s version of the end of the world to hear about taxes at its July meeting.
The presentations by leading tax experts in the state were process, rather than offering exciting specifics worth turning into big headlines. Even so, committee members stayed awake. Sen. John Sapien, Corrales Democrat, was occupied with two computers, a Mac laptop and a tablet. Others had the magnificent view of the Sandia Mountains from the meeting room on the second floor of the new one-building University of New Mexico West.
UNM West is part of Rio Rancho’s civic center, which is around five miles from anywhere. Only the new Central New Mexico Community College campus is further from civilization than UNM. A sign near UNM claimed CNM was over the next hill.
Committee members heard that taxes are complicated and that corporate income taxes are especially complex. Tom Clifford, secretary of the Department of Finance and Administration, reviewed the administration’s tax policy thinking, as the LFC begins considering the 2013 legislative session. Demesia Padilla, secretary of the Taxation and Revenue Department, summarized a complex soon-to-be released100-page report on what the state really does with tax money.