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City Council President Isaac Benton Requests a State Auditor Review of Gross Receipts Distribution from the New Mexico Taxation and Revenue Department

Gross Receipts Tax revenue comprises approximately two-thirds of the City of Albuquerque’s total annual operating revenue

On May 17, 2017 Council President Isaac Benton sent a request to State Auditor Tim Keller to conduct an audit of the New Mexico Taxation and Revenue Department’s Gross Receipts Tax distribution system. Gross Receipts Tax revenue comprises approximately two-thirds of the City of Albuquerque’s total annual operating revenue. Because the monthly distributions to the City from NM Taxation and Revenue have been so erratic and seemingly error filled for approximately the last two years, it has been difficult for both City Administration and the City Council to forecast revenues and plan for operating and capital expenses.  

Councilor Benton has received an response from the Special Investigations Division of the Office of the State Auditor, and it appears that the City is not the only municipality or agency being affected by the fluctuations in NMGRT reporting and distribution. The response states that the Division will be expanding its testing as part of the annual audit process for the NM Taxation and Revenue to address these concerns.