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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-26-2

Definitions

Official textnmonesource.comlast amended

As used in the Severance Tax Act:

# A.

"department" means the taxation and revenue department, the secretary of taxation and revenue or any employee of the department exercising authority lawfully delegated to that employee by the secretary;

# B.

"natural resource" means timber and any metalliferous or nonmetalliferous mineral product, combination or compound thereof but does not include oil, natural gas, liquid hydrocarbon, individually or any combination thereof, or carbon dioxide;

# C.

"severer" means any person engaging in the business of severing natural resources that the person owns or any person who is the owner of natural resources and has another person perform the severing of such natural resources;

# D.

"severing" means mining, quarrying, extracting, felling or producing any natural resources in New Mexico;

# E.

"owner", when used in connection with the severing of any of the natural resources covered by the Severance Tax Act under any lease or contract with the state or United States, includes any person having the right to sever those resources; and

# F.

"secretary" means the secretary of taxation and revenue.

Amendment history

Laws 1937, ch. 103, § 2; C.S. 1929, § 97-4A-102; 1941 Comp., § 76-1302; Laws 1949, ch. 65, § 2; 1951, ch. 24, § 1; 1953 Comp., § 72-18-2; Laws 1957, ch. 79, § 1; 1959, ch. 52, § 27; 1961, ch. 98, § 2; 1970, ch. 8, § 2; 1974, ch. 61, § 1; repealed and reenacted by Laws 1977, ch. 102, § 4; 1978 Comp., § 7-26-2; 1985, ch. 65, § 24; 1986, ch. 20, § 92; 2025, ch. 130, § 113.

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

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In this article (14 sections)
  1. 7-26-1 · Short title
  2. 7-26-2 · Definitions
  3. 7-26-3 · Imposition of tax; denomination as "severance tax"
  4. 7-26-4 · Determination of taxable value of natural resources
  5. 7-26-5 · 7-26-5
  6. 7-26-6 · Severance tax on coal; surtax
  7. 7-26-6.1 · Repealed
  8. 7-26-6.2 · Coal surtax exemption; qualification requirements
  9. 7-26-7 · Severance tax on uranium
  10. 7-26-7.1 · Repealed
  11. 7-26-8 · Date payment of tax due
  12. 7-26-9 · Repealed
  13. 7-26-10 · Repealed
  14. 7-26-11 · Repealed
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