New Mexico Governor Signs Law Authorizing Taos County to Impose Hospital Gross Receipts Tax

The New Mexico Governor April 4 signed a law authorizing Taos County to impose a new county hospital gross receipts tax under the County Local Option Gross Receipts and Compensating Taxes Act, effective July 1, for sales and use and excise tax purposes. The law includes measures: 1) authorizing the county to impose an excise tax at a rate of 0.5 percent on any person engaging in business in the county for the privilege of engaging in business in the county and referring it as the “county hospital gross receipts tax;" 2) defining “county” with terms that the Legislative Finance ...