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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-26-5

7-26-5

Official textnmonesource.comlast amended

Tax rates on severed natural resources except coal and uranium.
The severance tax is imposed at the following rates on the taxable value determined under Section 7-26-4 NMSA 1978 of the following natural resources:

# A.

potash 2 1/2%

# B.

copper 1/2%

# C.

timber 1/8%

# D.

pumice, gypsum, sand, gravel, clay, fluorspar and other nonmetallic minerals
1/8%

# E.

lead, zinc, thorium, molybdenum, manganese, rare earth and other metals
1/8%

# F.

gold and silver 1/5%

Amendment history

1953 Comp., § 72-18-5, enacted by Laws 1977, ch. 102, § 7; 1984, ch. 84, § 2.

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  7. 7-26-6.1 · Repealed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  10. 7-26-7.1 · Repealed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  12. 7-26-9 · Repealed
  13. 7-26-10 · Repealed
  14. 7-26-11 · Repealed
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