Chapter 7 — Chapter 7

ANNOTATIONS Repeals. — Laws 1995, ch. 31, § 7 repealed 7-38-91 NMSA 1978, as enacted by Laws 1973, ch. 258, § 131, relating to publication and distribution of regulations and rulings, effective July 1, 1995. For provisions of the former sections, see the 1994 NMSA 1978 on NMOneSo…

Any person who willfully attempts to evade the payment of any property tax is guilty of a fourth degree felony. He shall be fined not more than five thousand dollars ($5,000), or imprisoned for not less than one year nor more than five years, or both. History: 1953 Comp., § 72-31…

Code. Any person who by force, bribe, threat or other corrupt practice obstructs or impedes the administration of the Property Tax Code is guilty of a misdemeanor. He shall be fined not less than two hundred fifty dollars ($250) nor more than ten thousand dollars ($10,000), or im…

Chapter 7, Article 39 NMSA 1978 may be cited as the "Copper Production Ad Valorem Tax Act". History: 1978 Comp., § 7-39-1, enacted by Laws 1990, ch. 125, § 8.

administration; remittances to state and county treasurers; state and county treasurers may distribute funds. A. By the last day of each month, the department shall prepare and certify a report to the secretary of finance and administration. The report shall be for the preceding …

As used in the Copper Production Ad Valorem Tax Act: A. "average price" means for any mineral the average price for the appropriate period determined from published price data in the manner specified by regulation; B. "copper mineral property" means all mineral property and prope…

The provisions of the Copper Production Ad Valorem Tax Act apply to the valuation of all productive copper mineral property. History: 1978 Comp., § 7-39-3, enacted by Laws 1990, ch. 125, § 10.

A. The valuation for purposes of the Copper Production Ad Valorem Tax Act of copper mineral property of the following types shall be determined annually, except as provided otherwise in Subsection B, C or D of this section, as follows: (1) the value of any mine and all real prope…

Each tax year the owner of a copper mineral property shall report to the department on the forms and in the manner prescribed by the department the value, for purposes of the Copper Production Ad Valorem Tax Act, of each copper mineral property owned and the taxing jurisdictions …

counties. By August 1 of each year, the department shall prepare and send to the department of finance and administration schedules of the taxable value and taxing jurisdictions of each copper mineral property. The taxable values shown on the schedules shall be used by the depart…

To determine for any purpose the total taxable value of property required to be taxed under the Copper Production Ad Valorem Tax Act for any taxing jurisdiction for any year after 1990, the taxable value of copper mineral property for the taxing jurisdiction entered upon the sche…

An ad valorem tax is levied upon the owner of each copper mineral property that is not subject to valuation and taxation under the provisions of the Property Tax Code [Chapter 7, Articles 35 through 38 NMSA 1978]. The amount of the tax shall be equal to the product of the taxable…

A. On or before November 1 of each tax year the department shall notify the owner or operator of each copper mineral property, to which the Copper Production Ad Valorem Tax Act applies, of the tax rates that have been established for the taxing jurisdictions in which the copper m…

Sections 1 through 10 [7-40-1 to 7-40-10 NMSA 1978] of this act may be cited as the "Insurance Premium Tax Act". History: Laws 2018, ch. 57, § 1.

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…

History: Laws 2018, ch. 57, § 8; repealed by Laws 2019, ch. 47, § 4.

History: Laws 2018, ch. 57, § 9; repealed by Laws 2019, ch, 47, § 4.

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.