New Mexico § 7-25-8 Sales of natural resources subject to Gross Receipts and

New Mexico Statutes

§ 7-25-8 — Sales of natural resources subject to Gross Receipts and

New Mexico § 7-25-8

Ch. 7Taxation

Art. 25Resources Excise Tax

This text of New Mexico § 7-25-8 (Sales of natural resources subject to Gross Receipts and) 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. § 7-25-8 (2026).

Text

Compensating Tax Act. In addition to being subject to the Resources Excise Tax Act, any person who sells nonfissionable natural resources other than for subsequent sale in the ordinary course of business or for use as an ingredient or component part of a manufactured product is also subject to the provisions of the Gross Receipts and Compensating Tax Act [Chapter 7, Article 9 NMSA 1978] on such sales.

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Compensating Tax Act. In addition to being subject to the Resources Excise Tax Act, any person who sells nonfissionable natural resources other than for subsequent sale in the ordinary course of business or for use as an ingredient or component part of a manufactured product is also subject to the provisions of the Gross Receipts and Compensating Tax Act [Chapter 7, Article 9 NMSA 1978] on such sales.