NMSA 1978, § 7-33-2 — Definitions

As used in the Natural Gas Processors Tax Act:

# A.

"average annual taxable value" means the average of the taxable value per mcf,
determined pursuant to Section 7-31-5 NMSA 1978, of all natural gas produced in New
Mexico for the specified calendar year as determined by the department;

# B.

"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;

# C.

"fiscal year" means the period starting July 1 and ending June 30 of the
succeeding calendar year;

# D.

"mcf" means one thousand cubic feet;

# E.

"mmbtu" means one million British thermal units;

# F.

"natural gas" means any hydrocarbon that at atmospheric conditions of
temperature and pressure is in a gaseous state, and includes non-hydrocarbon gases
that are in combination with hydrocarbon gases;

# G.

"natural gas processing plant" means a facility used to extract liquid
hydrocarbons and non-hydrocarbon gaseous or liquid substances, individually or in any
combination, from natural gas, but does not include a facility that refines or processes
oil, natural gas or liquid hydrocarbons or that extracts substances from natural gas
through a field or lease operation;

# H.

"person" means any individual, estate, trust, receiver, business trust, corporation,
firm, copartnership, cooperative, joint venture, association or other group or combination
acting as a unit;

# I.

"processor" means a person who operates a natural gas processing plant; and

# J.

"tax" means the natural gas processors tax.