NMSA 1978, § 7-29-4.1 — Taxable value; method of determining

To determine the taxable value of oil and of other liquid hydrocarbons removed from
natural gas at or near the wellhead, of carbon dioxide, of helium, of non-hydrocarbon
gases, of natural gas from new production natural gas wells and of natural gas severed
after June 30, 1990, there shall be deducted from the value of products:

# A.

royalties paid or due the United States or the state of New Mexico;

# B.

royalties paid or due any Indian tribe, Indian pueblo or Indian that is a ward of the
United States of America; and

# C.

the reasonable expense of trucking any product from the production unit to the
first place of market.