New Mexico Statutes
§ 7-25-4 — Rate and measure of tax; denomination as "resources tax"
A. For the privilege of severing natural resources, there is imposed on any severer of natural resources in New Mexico an excise tax at the following rates on the taxable value of the natural resources:
(1)all natural resources except potash and molybdenum, three-fourths of one percent;
(2)potash, one-half of one percent; and (3) molybdenum, one-eighth of one percent. B. The tax imposed by this section shall be referred to as the "resources tax".
Free access — add to your briefcase to read the full text and ask questions with AI
New Mexico § 7-25-4 (Rate and measure of tax; denomination as "resources tax") — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1953 Comp., § 72-16A-23, enacted by Laws 1966, ch. 48, § 4; 1970, ch. 8, §
Nearby Sections
15
§ 7-1-1
Short title§ 7-1-11.1
Managed audits§ 7-1-11.2
Required audit notices§ 7-1-12
Identification of taxpayers§ 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Repealed§ 7-1-13.3
Repealed§ 7-1-13.4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