New Mexico Statutes 7-9-41.5. Exemption; nonprofit hospitals from local option gross receipts taxes
Current as of: 2023 | Check for updates
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A. Exempted from any local option gross receipts tax, but not the state gross receipts tax, are receipts of a nonprofit hospital licensed by the department of health.
B. As used in this section, “nonprofit hospital” means a hospital that has been granted exemption from federal income tax by the United States commissioner of internal revenue as an organization described in Section 501(c)(3) of the Internal Revenue Code.