0001|                       SENATE JOINT MEMORIAL 6
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0002|     43RD LEGISLATURE - STATE OF NEW MEXICO - SECOND SESSION, 1998
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0003|                            INTRODUCED BY
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0004|                        PAULINE B. EISENSTADT
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0005|     
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0006|                                   
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0007|     
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0008|     FOR THE ECONOMIC DEVELOPMENT, SCIENCE AND TECHNOLOGY COMMITTEE
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0009|     
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0010|                           A JOINT MEMORIAL
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0011|     REQUESTING THE APPROPRIATE STATE AGENCY TO IMPLEMENT CHANGES
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0012|     TO ALLOW THE ANNUAL MEASUREMENT OF NEWLY CREATED ECONOMIC-
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0013|     BASED JOBS.
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0014|     
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0015|          WHEREAS, the Corporate Income and Franchise Tax Act
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0016|     requires businesses in the state that are subject to that act
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0017|     to pay an estimated corporate income tax to the state four
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0018|     times during each taxable year; and
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0019|          WHEREAS, this regular communication with business
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0020|     entities provides an opportunity to obtain from them
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0021|     additional information, currently unavailable from any other
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0022|     source, that would be extremely useful in regional and
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0023|     statewide economic forecasting; and
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0024|          WHEREAS, that information from businesses includes the
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0025|     number of employees they have, the percentage of their product
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0001|     that is sold outside of New Mexico, the percentage produced
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0002|     for local consumption and responses to other short questions;
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0003|     and
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0004|          WHEREAS, information from businesses regarding the number
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0005|     of their employees and their business products would, after a
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0006|     sufficient amount of data was collected, provide statistical
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0007|     information for a database that would be useful to the state
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0008|     in determining a variety of economic factors and that,
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0009|     combined with population projections, would allow the creation
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0010|     of a statewide economic development plan; and
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0011|          WHEREAS, the additional information requested from
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0012|     businesses should be voluntary and anonymous; and
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0013|          WHEREAS, because it receives the quarterly tax payments
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0014|     and has the authority to revise the tax forms that businesses
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0015|     use, the taxation and revenue department is the agency best
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0016|     charged with this responsibility;
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0017|          NOW, THEREFORE, BE IT RESOLVED BY THE LEGISLATURE OF THE
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0018|     STATE OF NEW MEXICO that the taxation and revenue department
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0019|     determine the feasibility of revising tax forms to include the
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0020|     request for voluntary additional information that will be used
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0021|     to establish a database for economic forecasting; and
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0022|          BE IT FURTHER RESOLVED that the taxation and revenue
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0023|     department report its progress on this issue to the interim
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0024|     economic development, science and technology committee no
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0025|     later than October 30, 1998; and
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0001|          BE IT FURTHER RESOLVED that copies of this memorial be
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0002|     sent to the secretary of taxation and revenue, the governor
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0003|     and the chairman and vice chairman of the 1998 interim
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0004|     economic development, science and technology committee.
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0005|                              
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