NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-25-5
Rate and measure of tax; denomination as "processors tax"
Official textnmonesource.comlast amended
# A.
For the privilege of processing natural resources, there is imposed on any processor 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 timber, potash and molybdenum, three-fourths of one percent;
# (2)
timber, three-eighths of one percent;
# (3)
potash, one-eighth of one percent; and
# (4)
molybdenum, one-eighth of one percent.
# B.
The tax imposed by this section shall be referred to as the "processors tax".
Amendment history
1978 Comp., § 7-25-5, enacted by Laws 1985, (1st S.S.), ch. 3, §§ 1, 2; 1999, ch, 177, § 3; repealed and reenacted by Laws 1999, ch. 177, § 4.
Source: official source (NMSA chapter on nmonesource.com)
In this article (9 sections)
- 7-25-1 · Short title
- 7-25-2 · Purpose
- 7-25-3 · Definitions
- 7-25-4 · Rate and measure of tax; denomination as "resources tax"
- 7-25-5 · Rate and measure of tax; denomination as "processors tax"
- 7-25-6 · Rate and measure of tax; denomination as "service tax"
- 7-25-7 · Exemption; resources tax
- 7-25-8 · 7-25-8
- 7-25-9 · Date payment due