Exempted from the taxes imposed pursuant to the Insurance Premium Tax Act are: A. premiums attributable to insurance or contracts purchased by the state or a political subdivision for the state’s or political subdivision’s active or retired employees;

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Terms Used In New Mexico Statutes 7-40-5

  • Contract: A legal written agreement that becomes binding when signed.

B. payments received by a health maintenance organization from the federal secretary of health and human services pursuant to a risk-sharing contract issued under the provisions of 42 U.S.C. § 1395mm(g);

C. any business transacted pursuant to the provisions of the Service Contract Regulation Act [N.M. Stat. Ann. Chapter 59A, Article 58];

D. the premiums from each policy or plan issued or offered pursuant to the Minimum Healthcare Protection Act [N.M. Stat. Ann. Chapter 59A, Article 23B] during the first three years of the issuance of the master policy or individual policy; and

E. the money collected and placed in trust pursuant to Section 59A-49-6 N.M. Stat. Ann..

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