NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-25-8
7-25-8
Official textnmonesource.comlast amended
Sales of natural resources subject to Gross Receipts and
Compensating Tax Act.
In addition to being subject to the Resources Excise Tax Act, any person who sells nonfissionable natural resources other than for subsequent sale in the ordinary course of business or for use as an ingredient or component part of a manufactured product is also subject to the provisions of the Gross Receipts and Compensating Tax Act [Chapter 7, Article 9 NMSA 1978] on such sales.
Amendment history
1953 Comp., § 72-16A-27, enacted by Laws 1966, ch. 48, § 8; 1984, ch. 2, § 8.
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