John Arthur Smith
NM could see tax on internet sales after Supreme Court decision
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A U.S. Supreme Court decision may open the door to the taxation of more internet sales in New Mexico. In a 5-4 decision Thursday, the U.S. Supreme Court said states could tax sales on internet purchases from companies that do not have a physical presence in a state. The decision overturned a 1992 decision on catalogue-order companies that was later interpreted to include internet sales. The New Mexico Legislature passed a bill that would apply the state’s gross receipts tax to internet sales in 2017 as part of a suite of tax changes. That would bring in, by a conservative estimate, $20 million annually for the state.