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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-9-33

7-9-33

Official textnmonesource.comlast amended

Exemption; gross receipts tax; products subject to Oil and
Gas Emergency School Tax Act.

# A.

Exempted from the gross receipts tax are receipts from the sale of products the severance of which is subject to the tax imposed by the Oil and Gas Emergency School Tax Act [Chapter 7, Article 31 NMSA 1978] except that receipts from the sale of products other than for subsequent resale in the ordinary course of business, for consumption outside the state, or for use as an ingredient or component part of a manufactured product are subject to the Gross Receipts and Compensating Tax Act as well as to the Oil and Gas Emergency School Tax Act.

# B.

No gross receipts tax or compensating tax pursuant to the Gross Receipts and Compensating Tax Act shall apply to storing crude oil, natural gas or liquid hydrocarbons, individually or any combination, or to the use of such products for fuel in the operation of a "production unit" as defined by the Oil and Gas Emergency School Tax Act.

Amendment history

1953 Comp., § 72-16A-12.21, enacted by Laws 1969, ch. 144, § 26; 1975, ch. 133, § 1; 1984, ch. 2, § 3; 1989, ch. 115, § 1.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (40 sections)
  1. 7-9-17 · Exemption; gross receipts tax; wages
  2. 7-9-18 · 7-9-18
  3. 7-9-18.1 · 7-9-18.1
  4. 7-9-19 · Exemption; gross receipts tax; livestock feeding
  5. 7-9-20 · 7-9-20
  6. 7-9-21 · Repealed
  7. 7-9-22 · Exemption; gross receipts tax; vehicles
  8. 7-9-22.1 · Exemption; gross receipts tax; boats
  9. 7-9-23 · Exemption; compensating tax; vehicles
  10. 7-9-23.1 · Exemption; compensating tax; boats
  11. 7-9-24 · Exemption; gross receipts tax; insurance companies
  12. 7-9-25 · Exemption; gross receipts tax; dividends and interest
  13. 7-9-26 · Exemption; gross receipts and compensating tax; fuel
  14. 7-9-26.1 · 7-9-26.1
  15. 7-9-27 · Exemption; compensating tax; personal effects
  16. 7-9-28 · 7-9-28
  17. 7-9-29 · 7-9-29
  18. 7-9-30 · 7-9-30
  19. 7-9-31 · 7-9-31
  20. 7-9-32 · 7-9-32
  21. 7-9-33 · 7-9-33
  22. 7-9-34 · 7-9-34
  23. 7-9-35 · 7-9-35
  24. 7-9-36 · 7-9-36
  25. 7-9-37 · 7-9-37
  26. 7-9-38 · 7-9-38
  27. 7-9-38.1 · 7-9-38.1
  28. 7-9-38.2 · 7-9-38.2
  29. 7-9-39 · 7-9-39
  30. 7-9-40 · 7-9-40
  31. 7-9-41 · Exemption; gross receipts tax; religious activities
  32. 7-9-41.1 · 7-9-41.1
  33. 7-9-41.2 · Deleted
  34. 7-9-41.3 · 7-9-41.3
  35. 7-9-41.4 · 7-9-41.4
  36. 7-9-41.5 · 7-9-41.5
  37. 7-9-41.6 · 7-9-41.6
  38. 7-9-42 · Repealed
  39. 7-9-43 · 7-9-43
  40. 7-9-43.1 · 7-9-43.1
Full table of contents →