Tuesday, February 18, 2003

New Mexico Cuts (Yes Cuts!) Taxes Governor Bill Richardson has just signed an income tax cut into law in New Mexico, giving that state a top tax rate on individuals of 4.9%. House Speaker Ben Lujan said enactment of the tax cut package marked a "great day for New Mexico" and will make the top personal income tax rate lower than those of Arizona, California, Utah and Oklahoma. [Albuquerque Journal-subscription]* Utah Residents can access this by PIONEER - Factiva comments or questions [] 9:48:39 AM

Qwest: Earnings numbers due tomorrow, Utah Regulators asked to hike phone fees Fourth quarter and year end financials are due from Qwest tomorrow.  Meantime the giant utility is asking for higher phone and directory assistance fees in Utah, as well as Arizona and Utah. [Minneapolis Star-Tribune] comments or questions [] 9:40:35 AM

Internet Taxation: Level Playing Field? The Wall Street Journal weighs in today on the Internet tax proposals of Governor Leavitt and the Governors' Association, ascribing motives beyond the common argument that such taxation will create a "level playing field". The WSJ notes that internet commerce still comprises only 3% of overall retail spending and such tax proposals are a way to smooth the road for additional taxes, such as other "business activities fees". The primary roadblock for the governors is the Supreme Court's Quill decision, which argued that one state cannot force another to collect its taxes. Thus the attempt to streamline and simplify the myriad state and local taxing structures to have another go at overturning Quill. [Quill Corp. v. North Dakota, 504 U.S. 298] [Wall Street Journal - subscription only]* *Utah Residents: consult PIONEER: Factiva or ProQuest Newsstand] comments or questions [] 9:36:35 AM