Excise Tax Revision Measure Moves in NM

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Passing initial committee consideration with amendments, companions H.B. 489 and S.B. 413 propose a revision to the excise tax rates for microbrewed beer, cider and craft distillers, with the beer rates revised from the single rate of $.41 per gallon to $.08 per gallon on the first 30,000 barrels, $.28 per gallon for volumes from 30,000 to 60,000 barrels and $.41 for volumes from 60,000 barrels to 200,000.