HB338

Extends the sunset date for a gross receipts tax deduction for health care practitioners and expands the deduction to include coinsurance.

The bill amends the New Mexico Gross Receipts and Compensating Tax Act to extend the sunset date for a gross receipts tax deduction for health care practitioners and associations of health care practitioners. It expands the deduction to include coinsurance, copayments, and deductibles paid by insured or enrollees to health care practitioners or associations for commercial contract services. The deductions are limited to services within the scope of practice of the health care practitioner providing the service. The effective date of the provisions is July 1, 2026.