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Distributors fight bill to end cigarette tax cut

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Posted: Friday, January 31, 2014 7:00 pm

Cigarette distributors are fighting back against a proposal being pushed by a Santa Fe think tank that would end discounts for affixing tax stamps to cigarette packs.

The tax-stamp provision is just one of several tax loopholes targeted in Senate Bill 10, sponsored by Senate President Pro Tem Mary Kay Papen and touted by Think New Mexico. In addition to closing loopholes, the bill would establish a “post-performance tax incentive,” in which companies could receive tax benefits only after creating high-paying jobs or making large investments in the state.

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