By D. Dowd Muska
On Jan. 1, 2005, food bought at New Mexico’s grocery stores was excluded from the gross receipts tax. In exchange for the break, the GRT was hiked on all other purchases.
A decade later, it’s clear that the tax shift was a mistake.
With several proposals before the legislature to reinstate the GRT on food, it’s time for an honest examination of how and why the well-meaning exemption failed.