NMSA 1978 Chapter 7 — Taxation
NMSA 1978, § 7-42-2
Definitions
As used in the Cannabis Tax Act:
# A.
"cannabis":
# (1)
means all parts of the plant genus Cannabis containing a delta-9-tetrahydrocannabinol concentration of more than three-tenths percent on a dry weight basis, whether growing or not; the seeds of the plant; the resin extracted from any part of the plant; and every compound, manufacture, salt, derivative, mixture or preparation of the plant, its seeds or its resin; and
# (2)
does not include:
(a) the mature stalks of the plant; fiber produced from the stalks; oil or cake made from the seeds of the plant; any other compound, manufacture, salt, derivative, mixture or preparation of the mature stalks, fiber, oil or cake; or the sterilized seed of the plant that is incapable of germination; or
(b) the weight of any other ingredient combined with cannabis to prepare topical or oral administrations, food, drink or another product;
# B.
"cannabis extract":
# (1)
means a product obtained by separating resins from cannabis by solvent extraction using solvents other than vegetable glycerin, such as butane, hexane, isopropyl alcohol, ethanol or carbon dioxide; and
# (2)
does not include the weight of any other ingredient combined with cannabis extract to prepare topical or oral administrations, food, drink or another product;
# C.
"cannabis product" means a product that is or that contains cannabis or cannabis extracts, including edible or topical products that may also contain other ingredients;
and
# D.
"cannabis retailer" means a person whose license from the cannabis control division of the regulation and licensing department allows the person to sell cannabis products to a person who purchases, acquires, possesses or uses the cannabis product for a purpose other than resale.
Amendment history
Laws 2021 (1st S.S.), ch. 4, § 44.
Source: official source (NMSA chapter on nmonesource.com)
In this article (5 sections)
- 7-42-1 · Short title
- 7-42-2 · Definitions
- 7-42-3 · Cannabis excise tax
- 7-42-4 · Date payment due; reporting location instructions
- 7-42-5 · 7-42-5