[1] NOTE: As provided in LFC policy, this report is intended only for use by the standing finance committees of the legislature. The Legislative Finance Committee does not assume responsibility for the accuracy of the information in this report when used in any other situation.

Only the most recent FIR version (in HTML & Adobe PDF formats) is available on the Legislative Website. The Adobe PDF version includes all attachments, whereas the HTML version does not. Previously issued FIRs and attachments may be obtained from the LFC’s office in Suite 101 of the State Capitol Building North.

F I S C A L I M P A C T R E P O R T

SPONSOR:	Beffort		DATE TYPED:	01/22/02		HB
SHORT TITLE:		Amend Gross Receipts & Compensating Tax Act				SB	21
					ANALYST:		Neel

APPROPRIATION

Appropriation Contained

Estimated Additional Impact

Recurring

or Non-Rec

Fund

Affected

FY02

FY03

FY02

FY03

NFI

(Parenthesis ( ) Indicate Expenditure Decreases)

SOURCES OF INFORMATION

LFC files

No Response

Taxation and Revenue Department (TRD)

SUMMARY

Synopsis of Bill

Senate Bill 21 amends the Gross Receipts and Compensating Tax Act to provide clarification to those excluded from the definition of “engaging in business.” SB 21 adds language for third party call centers, whom are excluded from the definition of “engaging in business”, that provides services primarily to “non-New customers.”

FISCAL IMPLICATIONS

Senate Bill 21 does not make an appropriation.

TECHNICAL ISSUES

On page three of SB 21 the proposed changes read “or to provide services primarily to non-New customers. Should this read non-New Mexico customers?

SN/ar