NMSA 1978, § 7-9-100 — 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.
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.