N.M. Stat. § 7-40-6 (2026)

The assessment for any New Mexico medical insurance pool member pursuant to
Section 59A-54-10 NMSA 1978 shall be allowed as a fifty percent credit on the tax
return for that member and a seventy-five percent credit on the tax return for that
member for the assessments attributable to pool policyholders that receive premiums, in
whole or in part, through the federal Ryan White Comprehensive AIDS Resources
Emergency Act of 1990, the Ted R. Montoya hemophilia program at the university of
New Mexico health sciences center, the children's medical services bureau of the public
health division of the department of health or other program receiving state funding or
assistance. That portion of credit that exceeds a member's premium tax liability in the
taxable period in which the credit is claimed shall not be refunded and shall not be
carried forward to subsequent taxable periods.

History: Laws 2018, ch. 57, § 6; 2023, ch. 85, § 22.

                                    ANNOTATIONS

Cross references. — For the federal Ryan White CARE Act, see 42 U.S.C.A. Sections
300ff-11 et seq.

The 2023 amendment, effective July 1, 2023, provided that the portion of credit for
assessments contributed to the New Mexico medical insurance pool that exceeds a
member's premium tax liability shall not be refunded and shall not be carried forward to
subsequent taxable periods; and made certain technical amendments; after "Ryan
White", deleted "CARE" and added "Comprehensive AIDS Resources Emergency",
after "Act", added "of 1990", and added "That portion of credit that exceeds a member's
premium tax liability in the taxable period in which the credit is claimed shall not be
refunded and shall not be carried forward to subsequent taxable periods.".
7-40-7. Date payment due.
   A. Except as provided in Subsections B and C of this section, for each calendar
quarter, an estimated payment of the premium tax and the health insurance premium
surtax shall be made on April 15, July 15, October 15 and the following January 15.
The estimated payments shall be equal to at least one-fourth of the payment made
during the previous calendar year or one-fifth of the actual payment due for the current
calendar year, whichever is greater. The final adjustment for payments due for the prior
year shall be made with the return filed on April 15, at which time all taxes for that year
are due.

   B. Within sixty days after expiration of a calendar quarter, a surplus lines broker
shall pay the premium tax due on surplus lines insurance where New Mexico is the
home state of the insured transacted under the surplus lines broker's license during
such calendar quarter, as reported to the department.

    C. For each calendar quarter, an estimated payment of the self-insured group tax
shall be made on April 15, July 15, October 15 and the following January 15. The
estimated payments shall be equal to at least one-fourth of the payment made during
the previous calendar year. The final adjustment for payments due for the prior year
shall be made with the return filed on April 15, at which time all taxes for that year are
due.

History: Laws 2018, ch. 57, § 7; 2021, ch. 65, § 36.

                                     ANNOTATIONS

The 2021 amendment, effective July 1, 2021, set the due dates for estimated
payments of the self-insured group tax; in Subsection A, after "provided in", deleted
"Subsection B" and added "Subsections B and C"; and added Subsection C.