New Mexico § 7-25-5 Rate and measure of tax; denomination as "processors tax"

New Mexico Statutes

§ 7-25-5 — Rate and measure of tax; denomination as "processors tax"

New Mexico·Ch. 7 Taxation·Art. 25 Resources Excise Tax

A. For the privilege of processing natural resources, there is imposed on any processor 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 timber, potash and molybdenum, three- fourths of one percent;

(2)timber, three-eighths of one percent;

(3)potash, one-eighth of one percent; and (4) molybdenum, one-eighth of one percent. B. The tax imposed by this section shall be referred to as the "processors tax".

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A. For the privilege of processing natural resources, there is imposed on any processor 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 timber, potash and molybdenum, three- fourths of one percent; (2) timber, three-eighths of one percent; (3) potash, one-eighth of one percent; and (4) molybdenum, one-eighth of one percent. B. The tax imposed by this section shall be referred to as the "processors tax".

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