Chapter 7, Chapter 7

The department shall promulgate rules to carry out the provisions of the Insurance Premium Tax Act. History: Laws 2018, ch. 57, § 10.

As used in the Insurance Premium Tax Act: A. "authorized insurer" means an insurer holding a valid and subsisting certificate of authority to transact insurance in this state; B. "certificate of authority" means the certificate of authority required to transact insurance in this …

"health insurance premium surtax" and "self-insured group tax". A. The tax imposed pursuant to this subsection may be referred to as the "premium tax". The premium tax is imposed at a rate of three and three-thousandths percent of the gross premiums and membership and policy fees…

A. When by or pursuant to the laws of any other state or foreign country or province, any taxes, in the aggregate, are or would be imposed upon New Mexico insurers doing business or that might seek to do business in such state, country or province, or upon the agents or represent…

Exempted from the taxes imposed pursuant to the Insurance Premium Tax Act are: A. premiums attributable to insurance or contracts purchased by the state or a political subdivision for the state's or political subdivision's active or retired employees; B. payments received by a he…

The assessment for any New Mexico medical insurance pool member pursuant to Section 59A-54-10 NMSA 1978 shall be allowed as a fifty percent credit on the tax return for that member and a seventy-five percent credit on the tax return for that member for the assessments attributabl…

A. Except as provided in Subsections B and C of this section, for each calendar quarter, an estimated payment of the premium tax and the health insurance premium surtax shall be made on April 15, July 15, October 15 and the following January 15. The estimated payments shall be eq…

Sections 1 through 8 [7-41-1 to 7-41-8 NMSA 1978] of this act may be referred to as the "Health Care Quality Surcharge Act". History: Laws 2019, ch. 53, § 1.

The purpose of the Health Care Quality Surcharge Act is to enhance federal financial participation in medicaid to increase medicaid provider reimbursement rates and support facility quality improvement efforts in skilled nursing facilities, intermediate care facilities and interm…

As used in the Health Care Quality Surcharge Act: A. "department" means the taxation and revenue department; B. "health care facility" means a skilled nursing facility, intermediate care facility or intermediate care facility for individuals with intellectual disabilities; C. "in…

payment due. A. A surcharge is imposed on each health care facility. The surcharge shall be per day for each non-medicare bed day. The rate of the surcharge shall be annually calculated by the human services department [health care authority department] pursuant to Subsection B o…

A health care facility with more than ninety thousand annual medicaid-financed bed days may claim an exemption in an amount equal to sixty-five percent of the health care quality surcharge due in a reporting period. The percentage and annual medicaid- financed bed days threshold …

A. The "health care facility fund" and the "disability health care facility fund" are created in the state treasury. The funds consist of appropriations, distributions, transfers, gifts, grants, donations and bequests made to the funds and income from the investment of the funds.…

The department shall interpret the provisions of the Health Care Quality Surcharge Act. The department shall administer and enforce the collection of the health care quality surcharge, and the Tax Administration Act [Chapter 7, Article 1 NMSA 1978] applies to the administration a…

The taxation and revenue department and the human services department [health care authority department] shall promulgate rules to carry out the provisions of the Health Care Quality Surcharge Act, as appropriate for each department, including the rate calculations required to be…

Sections 43 through 47 [7-42-1 to 7-42-5 NMSA 1978] of this act may be cited as the "Cannabis Tax Act". History: Laws 2021 (1st S.S.), ch. 4, § 43.

As used in the Cannabis Tax Act: A. "cannabis": (1) means all parts of the plant genus Cannabis containing a delta-9- tetrahydrocannabinol concentration of more than three-tenths percent on a dry weight basis, whether growing or not; the seeds of the plant; the resin extracted fr…

A. An excise tax is imposed on a cannabis retailer that sells cannabis products in this state. The tax imposed by this section may be referred to as the "cannabis excise tax". B. The rate of the cannabis excise tax shall be at the following rates and shall be applied to the price…

A. The cannabis excise tax is to be paid on or before the twenty-fifth day of the month following the month in which the taxable sale occurs. B. The reporting location for reporting the sale of cannabis products shall be at the following locations: (1) if the cannabis product is …

enforcement of tax. The department shall administer and enforce the collection of the cannabis excise tax pursuant to the Tax Administration Act [Chapter 7, Article 1 NMSA 1978] . History: Laws 2021 (1st S.S.), ch. 4, § 47.