NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-26-7
Severance tax on uranium
The severance tax on uranium is measured by the quantity of U3O8 contained in and recoverable from severed and saved uranium-bearing material whether that material is ore or solution, measured in a standard manner established by regulation of the director. The taxable event is the sale, transportation out of New Mexico or consumption of the uranium-bearing material, whichever first occurs. Upon each pound of severed and saved U3O8 contained in severed uranium-bearing material, there shall be collected from the severer a severance tax equal to three and one-half percent of taxable value.
Amendment history
1953 Comp., § 72-18-7, enacted by Laws 1977, ch. 102, § 9; 1980, ch. 62, § 2; 1981, ch. 169, § 2; 1983, ch. 210, § 2; 1985, ch. 65, § 25.
Source: official source (NMSA chapter on nmonesource.com)
In this article (14 sections)
- 7-26-1 · Short title
- 7-26-2 · Definitions
- 7-26-3 · Imposition of tax; denomination as "severance tax"
- 7-26-4 · Determination of taxable value of natural resources
- 7-26-5 · 7-26-5
- 7-26-6 · Severance tax on coal; surtax
- 7-26-6.1 · Repealed
- 7-26-6.2 · Coal surtax exemption; qualification requirements
- 7-26-7 · Severance tax on uranium
- 7-26-7.1 · Repealed
- 7-26-8 · Date payment of tax due
- 7-26-9 · Repealed
- 7-26-10 · Repealed
- 7-26-11 · Repealed