<p>I oppose the New Mexico Art Tax (New Mexico Senate Bill 226) for the following reasons:<br /><br />â¶ï¸ Galleries and artists operate on very slim margins and the ability to offer no tax on out-of-state sales is a proven incentive in generating sales. Not requiring this tax places fine art businesses in New Mexico on a level playing field with other States with significant art markets that also do not require this type of tax.<br /><br />â¶ï¸ Fine art businesses and artists are cornerstones of the arts & culture sector of New Mexico's economy - 1 in 10 jobs in our state are in the cultural industry that already pays $2.3 billion in salaries. In fact much of the art sold in our state is produced locally. Adding a new tax as proposed in SB 226 has the potential to do great harm while the returns offer little relief to the State fiscal crisis. <br /><br />â¶ï¸ Singling out fine art sales for new taxes is unfair and sets a dangerous precedent going forward. This is a time we should be incentivising art businesses not adding new tax burdens to them.</p>
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