2018 New Mexico Statutes
Chapter 59A - Insurance Code
Article 6 - Fees and Taxes
Section 59A-6-6 - Preemption and in lieu provision.
The state government of New Mexico preempts the field of taxation of insurers, nonprofit health care plans, health maintenance organizations, prepaid dental plans, prearranged funeral plans and insurance producers as such, and payment of the taxes, licenses and fees provided for in the Insurance Code shall be in lieu of all other taxes, licenses and fees of every kind now or hereafter imposed by this state or any political subdivision thereof on any of the foregoing specified entities, excepting the regular state, county and city taxes on property located in New Mexico and excepting the income tax on insurance producers. No provision of law enacted after January 1, 1985 shall be deemed to modify this provision except by express reference to this section.
History: Laws 1984, ch. 127, § 106; 1987, ch. 259, § 7; 1988, ch. 76, § 3; 2016, ch. 89, § 3.
Cross references. — For the Insurance Code, see 59A-1-1 NMSA 1978 and notes thereto.
The 2016 amendment, effective July 1, 2017, after "prearranged funeral plans and insurance", deleted "agents and solicitors" and added "producers", after "on property located in New Mexico", added "and" and after "excepting the income tax on", deleted "not include insurance adjusters" and added "insurance producers".
Severability. — Laws 2016, ch. 89, § 71 provided that if any part or application of Laws 2016, ch. 89 is held invalid, the remainder or its application to other situations or persons shall not be affected.
