Albuquerque Journal (Albuquerque, NM)

Panel Tables Health-Care Tax Break.(Legislature)

Byline: David Miles Journal Capitol Bureau

SANTA FE The House Taxation and Revenue Committee on Wednesday tabled a bill to allow most health-care providers to deduct the gross-receipts tax they pay on medical services provided under managed-care contracts.

The state charges a 5 percent gross-receipts tax on goods and services, and local governments can add an additional amount.

Under the bill, those who would be allowed to take a deduction for medical services provided under managed care include physicians, dentists, osteopaths, podiatrists and psychologists.

Dr. Peter Beaudette, an Albuquerque physician, told committee members that the legislation is needed to draw doctors to New Mexico. …

Log in to your account to read this article – and millions more.