health insurance companies
Insurers owe state nearly $65 million in unpaid taxes
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Insurance companies owe the state nearly $65 million in taxes. That’s according to an audit of premium taxes paid by insurance companies to New Mexico over more than a decade. The audit looked at 30 health, life and property insurers’ tax payments from from 2003 to 2016. Of those, 17 companies underpaid the taxes, with one insurer underpaying by nearly $30 million. Most of the underpaid money came because companies misapplied or claimed tax credits for which they did not actually qualify.