Alcohol Tax Increase Vetoed by NM Gov

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Falling victim to the Governor’s line item veto, provisions in House Bill 547 seeking to raise taxes on all alcoholic beverages has been stricken. Under the bill, the excise tax imposed on beer manufactured or produced by a microbrewer and sold in the state would have been set at the following rates: eight cents ($.08) per gallon on the first thirty thousand barrels sold; twenty-eight cents ($.28) per gallon for all barrels sold over thirty thousand barrels but less than sixty thousand barrels sold; and forty-one cents ($.41) per gallon for sixty thousand or more barrels sold. For all other manufacturers or producers, the rate would be forty-nine cents ($.49) per gallon sold.