NMSA 1978, § 7-26-3 — Imposition of tax; denomination as "severance tax"

For the privilege of severing natural resources, there is imposed on any severer of
natural resources in New Mexico an excise tax on the taxable value or the quantity of
natural resources severed and saved by or for him as determined under, and at the
rates provided in the Severance Tax Act. The tax imposed by this section shall be
known as the "severance tax".