7-9-73.1: Deduction; gross receipts; governmental gross receipts; hospitals.

A. Sixty percent of the receipts of hospitals licensed by the department of health may be deducted from gross receipts; provided that this deduction may be applied only to the taxable gross receipts remaining after all other appropriate deductions have been taken.

B. Sixty percent of the receipts of a hospital licensed by the department of health may be deducted from governmental gross receipts.