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February 14, 2006
New Mexico to Become Hedge Fund Friendly
Although, in the current context New Mexico doesn't come to mind as a hedge fund hub, there is a strong possibility that it might in the times to come. The state Senate has unanimously passed a bill to eliminate the gross-receipts tax imposed on wholesale broker transactions and management fees used to operate a fund. Alternative Investments reports:
And this could be a big deal, as the tax rate ranges from 5.125% to 7.8125%., depending on the county and municipality. Sponsored by state Sen. Sue Wilson Beffort (R-Albuquerque) the bill – part of a tax-reduction plan proposed by Gov.
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