NMSA 1978, § 7-9-35 — 7-9-35

Exemption; gross receipts tax; natural resources subject to
Resources Excise Tax Act.
Exempted from the gross receipts tax are receipts from the sale or processing of
natural resources the severance or processing of which are subject to the taxes
imposed by the Resources Excise Tax Act [Chapter 7, Article 25 NMSA 1978] except as
otherwise provided in Section 7-25-8 NMSA 1978.