Section 7-42-3 – Cannabis excise tax.
A. An excise tax is imposed on a cannabis retailer that sells cannabis products in this state. The tax imposed by this section may be referred to as the “cannabis excise tax”. B. The rate of the cannabis excise tax shall be at the following rates and shall be applied to the price paid for […]
Section 7-42-4 – Date payment due.
The cannabis excise tax is to be paid on or before the twenty-fifth day of the month following the month in which the taxable sale occurs. History: Laws 2021 (1st S.S.), ch. 4, § 46. ANNOTATIONS Effective dates. — Laws 2021 (1st S.S.), ch. 4 contained no effective date provision, but, pursuant to N.M. Const., […]
Section 7-42-5 – Interpretation of the cannabis tax act; administration and enforcement of tax.
The department shall administer and enforce the collection of the cannabis excise tax pursuant to the Tax Administration Act [Chapter 7, Article 1 NMSA 1978] . History: Laws 2021 (1st S.S.), ch. 4, § 47. ANNOTATIONS Effective dates. — Laws 2021 (1st S.S.), ch. 4 contained no effective date provision, but, pursuant to N.M. Const., […]
Section 7-41-5 – Exemption. (Repealed effective January 1, 2023.)
A health care facility with more than ninety thousand annual medicaid-financed bed days may claim an exemption in an amount equal to sixty-five percent of the health care quality surcharge due in a reporting period. The percentage and annual medicaid-financed bed days threshold may be modified by rule promulgated by the human services department, if […]
Section 7-41-6 – Health care facility fund; disability health care facility fund. (Repealed effective January 1, 2023.)
A. The “health care facility fund” and the “disability health care facility fund” are created in the state treasury. The funds consist of appropriations, distributions, transfers, gifts, grants, donations and bequests made to the funds and income from the investment of the funds. The funds shall be administered by the human services department, and money […]
Section 7-41-7 – Administration and enforcement of act. (Repealed effective January 1, 2023.)
The department shall interpret the provisions of the Health Care Quality Surcharge Act. The department shall administer and enforce the collection of the health care quality surcharge, and the Tax Administration Act [Chapter 7, Article 1 NMSA 1978] applies to the administration and enforcement of that surcharge. History: Laws 2019, ch. 53, § 7. ANNOTATIONS […]
Section 7-41-8 – Departments required to promulgate rules. (Repealed effective January 1, 2023.)
The taxation and revenue department and the human services department shall promulgate rules to carry out the provisions of the Health Care Quality Surcharge Act, as appropriate for each department, including the rate calculations required to be performed by the human services department, and the notification from that department to the taxation and revenue department […]
Section 7-42-1 – Short title.
Sections 43 through 47 [7-42-1 to 7-42-5 NMSA 1978] of this act may be cited as the “Cannabis Tax Act”. History: Laws 2021 (1st S.S.), ch. 4, § 43. ANNOTATIONS Effective dates. — Laws 2021 (1st S.S.), ch. 4 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective […]
Section 7-42-2 – Definitions.
As used in the Cannabis Tax Act: A. “cannabis”: (1) means all parts of the plant genus Cannabis containing a delta-9-tetrahydrocannabinol concentration of more than three-tenths percent on a dry weight basis, whether growing or not; the seeds of the plant; the resin extracted from any part of the plant; and every compound, manufacture, salt, […]
Section 7-41-1 – Short title. (Repealed effective January 1, 2023.)
Sections 1 through 8 [7-41-1 to 7-41-8 NMSA 1978] of this act may be referred to as the “Health Care Quality Surcharge Act”. History: Laws 2019, ch. 53, § 1. ANNOTATIONS Delayed repeals. — Laws 2019, ch. 53, § 12 repeals Laws 2019, ch. 53, §§ 1 through 8, effective January 1, 2023. Effective dates. […]