Home/New Mexico/Statutes/Ch. 7: Taxation/Art. 25: Resources Excise Tax/§ 7-25-2
New Mexico Statutes

§ 7-25-2 — Purpose

New Mexico § 7-25-2
JurisdictionNew Mexico
Ch. 7Taxation
Art. 25Resources Excise Tax

This text of New Mexico § 7-25-2 (Purpose) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook
N.M. Stat. Ann. § 7-25-2 (2026).

Text

The purpose of the Resources Excise Tax Act is to provide revenue for public purposes by levying a tax on the privilege of severing and processing natural resources within New Mexico.

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Legislative History

1953 Comp., § 72-16A-21, enacted by Laws 1966, ch. 48, § 2.

Nearby Sections

15
§ 7-1-1
Short title
§ 7-1-10
Records required by statute; taxpayer records; accounting
§ 7-1-11
Inspection of books of taxpayers; exception for marketplace
§ 7-1-11.1
Managed audits
§ 7-1-11.2
Required audit notices
§ 7-1-12
Identification of taxpayers
§ 7-1-12.1
Department to designate production unit; index;
§ 7-1-12.2
Notice of identification number assigned; operator may
§ 7-1-13
Taxpayer returns; payment of taxes; extension of time
§ 7-1-13.1
Method of payment of certain taxes due
§ 7-1-13.2
Repealed
§ 7-1-13.3
Repealed
§ 7-1-13.4
Electronic payments; reversals
§ 7-1-14
Reporting location instructions for purposes of reporting
§ 7-1-15
Secretary may set tax reporting and payment intervals
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Bluebook (online)
New Mexico § 7-25-2, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/7/7-25-2.