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New Mexico adopts annual sales tax break at small businesses

New Mexico adopts annual sales tax break at small businesses

SANTA FE, N.M. (AP) — New Mexico Gov. Susana Martinez has signed a bill that allows tax-free purchase at small businesses on the Saturday after Thanksgiving.

Martinez on Friday approved a deduction that allows businesses with 10 employees or fewer to leave sales taxes off many items one day a year. The bill sponsored by Democratic Rep. Doreen Gallegos of Las Cruces aims to encourage shopping at small businesses.

In a written message, Martinez lamented that the Legislature did not act on her recommendations to overhaul the state’s gross receipts tax on sales and business services.

Also Friday, the governor signed legislation to combat the spread of pecan weevils that threaten a major New Mexico crop and to deter the theft of pecans by licensing pecan buyers in order to better document and track sales.