NMBC wants to remind business owners/principles of the obligations within the Corporate Transparency Act (CTA), which took effect in 2024. The CTA, part of the Anti-Money Laundering Act of 2020, introduces new obligations for many businesses to disclose beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN). The good news is filing is performed electronically. The bad news is deadlines for many are fast approaching and fines for failing to comply are extensive. Key Points of the CTA: Reporting Requirements: Certain companies must report information on individuals who have substantial control or own at least 25% of the company. This includes their name, address, date of birth, and a unique identifying number from an acceptable identification document including a copy of the document to upload as part of the

Early voting is underway until Saturday, November 2, and Election Day is on Tuesday, November 5. If you are unable to vote today or tomorrow, Tuesday will be your last chance! Voting is a powerful way to make your voice heard and influence the future of our state. With nearly 1/2 of our population dependent on Medicaid and other tax funded programs, New Mexico is at a crossroads. Now is the time to stand up for the principles that will strengthen communities and safeguard individual freedoms. Get your sample ballot and see voting locations HERE. Here’s why your vote matters: Protect Personal Freedoms: Government growth and regulatory overreach is threatening the freedoms that every individual deserves. New Mexico needs leaders who will work to reduce crime, stop overspending that causes

It was a packed house last night at the 2024 Heroes Banquet: It was inspiring to witness hundreds of New Mexicans gather at the Crowne Plaza Hotel, united in their commitment to honor first responders, veterans, and community advocates who are making a significant impact in our state. NMBC was privileged to host the families of fallen first responders, Officer Jonah Hernandez and Officer Justin Hare, at the banquet. We appreciated the assistance from Aaron Jones, CEO of International Protective Service (IPS), in presenting the awards. NMBC was also honored to acknowledge all active-duty military personnel, veterans, and public safety heroes present at the event. Each individual received a commemorative Veteran medal in recognition of their bravery, loyalty, and service to our country. These were this year’s Hero Award Recipients:

The NM Tax & Revenue Dept. has extended the filing deadlines for those impacted by the tragedy of the Ruidoso wildfires. In an official press release, they said that taxpayers who were supposed to file their returns on June or July 25 now have until November 1 to do so. Additionally, individuals or businesses with income tax payments due on June 17 now have until September 17 to make their payments. Read more HERE. The Gross Receipts Tax Holiday in NM is happening from 12:01 a.m. on Friday, Aug. 2 until midnight on Sunday, Aug. 4. During this time, the NM Tax & Revenue Dept. will not collect gross receipts tax, allowing for tax-free purchases of certain items. For purchases to be tax-free there are a few restrictions: Clothing and