Section 7-9-100 - Deduction; gross receipts tax; sale of construction equipment and construction materials used in new facility construction of a sole community provider hospital [qualifying hospital] that is located in a federally designated health professional shortage area.

NM Stat § 7-9-100 (2019) (N/A)

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Receipts from selling construction equipment or construction materials used in the new facility construction of a sole community provider hospital [qualifying hospital] that is located in a federally designated health professional shortage area may be deducted from gross receipts if the sale of the construction equipment or construction materials is made to a foundation or a nonprofit organization that:

A. has entered into a written agreement with a county to pay at least ninety-five percent of the costs of new facility construction of that sole community provider hospital [qualifying hospital]; and

B. delivers to the seller either an appropriate nontaxable transaction certificate or other evidence acceptable to the secretary of a written agreement made in accordance with Subsection A of this section.

History: Laws 2006, ch. 35, § 2.

Bracketed material. — The bracketed material was inserted by the compiler and is not part of the law. Laws 2014, ch. 79, § 18 provided that all references in law to a sole community provider hospital shall be deemed to be references to a qualifying hospital pursuant to the Indigent Hospital and County Health Care Act, effective March 12, 2014.

Effective dates. — Laws 2006, ch. 35, § 3 made Laws 2006, ch. 35, § 2 effective July 1, 2006.

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