2019 New Mexico Statutes
Chapter 7 - Taxation
Article 9 - Gross Receipts and Compensating Tax
Section 7-9-73.1 - Deduction; gross receipts; governmental gross receipts; hospitals.
A. Sixty percent of the receipts of hospitals licensed by the department of health may be deducted from gross receipts; provided that this deduction may be applied only to the taxable gross receipts remaining after all other appropriate deductions have been taken.
B. Sixty percent of the receipts of a hospital licensed by the department of health may be deducted from governmental gross receipts.
History: Laws 1991, ch. 8, § 3; 1993, ch. 56, § 1; 1995, ch. 50, § 5; 2019, ch. 270, § 35.
ANNOTATIONSThe 2019 amendment, effective July 1, 2019, increased the deduction from gross receipts for hospitals licensed by the department of health, and provided a governmental gross receipts tax deduction for hospitals licensed by the department of health; in the section heading, added "governmental gross receipts"; in Subsection A, changed "Fifty" to "Sixty"; and added Subsection B.
The 1995 amendment, effective July 1, 1995, added the proviso at the end.
The 1993 amendment, effective July 1, 1993, deleted "tax" following "receipts" and "general" preceding "hospitals" in the section heading and rewrote this section which read "Fifty percent of the receipts of general hospitals may be deducted from gross receipts."
