New Mexico § 7-33-2 Definitions

New Mexico Statutes

§ 7-33-2 — Definitions

New Mexico § 7-33-2

Ch. 7Taxation

Art. 33Natural Gas Processors Tax

This text of New Mexico § 7-33-2 (Definitions) 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. § 7-33-2 (2026).

Text

As used in the Natural Gas Processors Tax Act: A. "average annual taxable value" means the average of the taxable value per mcf, determined pursuant to Section 7-31-5 NMSA 1978, of all natural gas produced in New Mexico for the specified calendar year as determined by the department; B. "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; C. "fiscal year" means the period starting July 1 and ending June 30 of the succeeding calendar year; D. "mcf" means one thousand cubic feet; E. "mmbtu" means one million British thermal units; F. "natural gas" means any hydrocarbon that at atmospheric conditions of temperature and pressure is in a gaseous s

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As used in the Natural Gas Processors Tax Act: A. "average annual taxable value" means the average of the taxable value per mcf, determined pursuant to Section 7-31-5 NMSA 1978, of all natural gas produced in New Mexico for the specified calendar year as determined by the department; B. "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; C. "fiscal year" means the period starting July 1 and ending June 30 of the succeeding calendar year; D. "mcf" means one thousand cubic feet; E. "mmbtu" means one million British thermal units; F. "natural gas" means any hydrocarbon that at atmospheric conditions of temperature and pressure is in a gaseous state, and includes non-hydrocarbon gases that are in combination with hydrocarbon gases; G. "natural gas processing plant" means a facility used to extract liquid hydrocarbons and non-hydrocarbon gaseous or liquid substances, individually or in any combination, from natural gas, but does not include a facility that refines or processes oil, natural gas or liquid hydrocarbons or that extracts substances from natural gas through a field or lease operation; H. "person" means any individual, estate, trust, receiver, business trust, corporation, firm, copartnership, cooperative, joint venture, association or other group or combination acting as a unit; I. "processor" means a person who operates a natural gas processing plant; and J. "tax" means the natural gas processors tax.