New Mexico Publishes Information on Gross Receipts Tax, Health Care Services

The New Mexico Taxation and Revenue Department July 1 issued a revised publication on the application of gross receipts sales and use tax to health care services. The publication included information on: 1) the tax application to governmental hospitals at a rate of 5 percent; 2) local tax exemption for non-profit hospitals; 3) the health care services deduction including definition of various terms; 4) deductible health care service receipts; and 5) receipts excluded from the health care services deduction. The tax department also provided a special notice about Medicare receipts and a penalty for incorrect filing. [N.M. Tax’n & Revenue ...