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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-25-4

Rate and measure of tax; denomination as "resources tax"

Official textnmonesource.comlast amended

# A.

For the privilege of severing natural resources, there is imposed on any severer of natural resources in New Mexico an excise tax at the following rates on the taxable value of the natural resources:

# (1)

all natural resources except potash and molybdenum, three-fourths of one percent;

# (2)

potash, one-half of one percent; and

# (3)

molybdenum, one-eighth of one percent.

# B.

The tax imposed by this section shall be referred to as the "resources tax".

Amendment history

1953 Comp., § 72-16A-23, enacted by Laws 1966, ch. 48, § 4; 1970, ch. 8, § 3; 1973, ch. 144, § 1; 1999, ch. 177, § 1; repealed and reenacted by 1999, ch. 177, § 2.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (9 sections)
  1. 7-25-1 · Short title
  2. 7-25-2 · Purpose
  3. 7-25-3 · Definitions
  4. 7-25-4 · Rate and measure of tax; denomination as "resources tax"
  5. 7-25-5 · Rate and measure of tax; denomination as "processors tax"
  6. 7-25-6 · Rate and measure of tax; denomination as "service tax"
  7. 7-25-7 · Exemption; resources tax
  8. 7-25-8 · 7-25-8
  9. 7-25-9 · Date payment due
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