NMSA 1978, § 7-9A-3 — Definitions

As used in the Investment Credit Act:

# A.

"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;

# B.

"equipment" means an essential machine, mechanism or tool, or a component or
fitting thereof, used directly and exclusively in a manufacturing operation and subject to
depreciation for purposes of the Internal Revenue Code by the taxpayer carrying on the
manufacturing operation. "Equipment" does not include any vehicle that leaves the site
of the manufacturing operation for purposes of transporting persons or property or any
property for which the taxpayer claims the credit pursuant to Section 7-9-79 NMSA
1978;

# C.

"manufacturing" means combining or processing components or materials,
including recyclable materials, to increase their value for sale in the ordinary course of
business, including genetic testing and production, but not including:
(1) construction;
(2) farming;
(3) power generation, except for electricity generation at a facility other than
one for which both location approval and a certificate of convenience and necessity are
required prior to commencing construction or operation of the facility, pursuant to the
Public Utility Act [Chapter 62, Articles 1 to 6 and 8 to 13 NMSA 1978] and the Electric
Utility Industry Restructuring Act of 1999 [repealed]; or
(4) processing natural resources, including hydrocarbons;

# D.

"manufacturing operation" means a plant, including a genetic testing and
production facility, employing personnel to perform production tasks, in conjunction with
equipment not previously existing at the site, to produce goods;

# E.

"recyclable materials" means materials that would otherwise become solid waste
if not recycled and that can be collected, separated or processed and placed in use in
the form of raw materials or products; and

# F.

"taxpayer" means a person liable for payment of any tax, a person responsible
for withholding and payment over or for collection and payment over of any tax or a
person to whom an assessment has been made, if the assessment remains unabated
or the amount thereof has not been paid.