reglab/housing_qa huggingface dataset:
NM Stat § 7-24B-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-2 - Repealed.

History: Laws 1987, ch. 45, § 11; 1990, ch. 88, § 14; repealed by Laws 2019, ch. 274, §16. ANNOTATIONSRepeals. — Laws 2019, ch. 274, § 16 repealed 7-24B-2 NMSA 1978, as enacted by Laws 1987, ch. 45, § 11, relating to definitions, effective July 1, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 7-24B-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-3 - Repealed.

History: Laws 1987, ch. 45, § 12; 2003, ch. 205, § 3; 2005, ch. 338, § 3; repealed by Laws 2019, ch. 274, § 16. ANNOTATIONSRepeals. — Laws 2019, ch. 274, § 16 repealed 7-24B-3 NMSA 1978, as enacted by Laws 1987, ch. 45, § 12, relating to use of proceeds, effective July 1, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 7-24B-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-4 - Repealed.

History: Laws 1987, ch. 45, § 13; 1990, ch. 88, § 15; repealed by Laws 2019, ch. 274, § 16. ANNOTATIONSRepeals. — Laws 2019, ch. 274, § 16 repealed 7-24B-4 NMSA 1978, as enacted by Laws 1987, ch. 45, § 13, relating to special county hospital gasoline tax, authorization, imposition, rate, effective July 1, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 7-24B-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-5 - Repealed.

ANNOTATIONSRepeals. — Laws 1990, ch. 88, § 21 repealed 7-24B-5 NMSA 1978, as enacted by Laws 1987, ch. 45, § 14, relating to procedure for adoption of ordinance, effective May 16, 1990. For provisions of former section, see the 1989 NMSA 1978 on NMOneSource.com.
NM Stat § 7-24B-5.1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-5.1 - Repealed.

History: 1978 Comp., § 7-24B-5.1, enacted by Laws 1990, ch. 88, § 16; repealed by Laws 2019, ch. 274, § 16. ANNOTATIONSRepeals. — Laws 2019, ch. 274, § 16 repealed 7-24B-5.1 NMSA 1978, as enacted by Laws 1990, ch. 88, § 16, relating to registration required, effective July 1, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 7-24B-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-6 - Repealed.

History: Laws 1987, ch. 45, § 15; 1990, ch. 88, § 17; repealed by Laws 2019, ch. 274, § 16. ANNOTATIONSRepeals. — Laws 2019, ch. 274, § 16 repealed 7-24B-6 NMSA 1978, as enacted by Laws 1987, ch. 45, § 15, relating to ordinance shall conform to certain provisions of the Gasoline Tax Act, effective July 1, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 7-24B-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-7 - Repealed.

History: Laws 1987, ch. 45, § 16; 1990, ch. 88, § 18; 1993, ch. 30, § 24; repealed by Laws 2019, ch. 274, § 16. ANNOTATIONSRepeals. — Laws 2019, ch. 274, § 16 repealed 7-24B-7 NMSA 1978, as enacted by Laws 1987, ch. 45, § 16, relating to referendum requirements, effective July 1, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 7-24B-8 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-8 - Repealed.

History: Laws 1987, ch. 45, § 17; 1990, ch. 88, § 19; repealed by Laws 2019, ch. 274, § 16. ANNOTATIONSRepeals. — Laws 2019, ch. 274, § 16 repealed 7-24B-8 NMSA 1978, as enacted by Laws 1987, ch. 45, § 17, relating to collection of special county hospital gasoline tax, effective July 1, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 7-24B-9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-9 - Repealed.

History: Laws 1987, ch. 45, § 18; 1990, ch. 88, § 20; repealed by Laws 2019, ch. 274, § 16. ANNOTATIONSRepeals. — Laws 2019, ch. 274, § 16 repealed 7-24B-9 NMSA 1978, as enacted by Laws 1987, ch. 45, § 18, relating to interpretation of Special County Hospital Gasoline Tax Act, effective July 1, 2019. For provisions of former section, see the 2018 NMSA 1978 on NMOneSource.com.
NM Stat § 7-24B-10 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 24B - Special County Hospital Gasoline Tax (Repealed.)|Section 7-24B-10 - Repealed.

ANNOTATIONSRepeals. — Laws 1990, ch. 88, § 21 repealed 7-24B-10 NMSA 1978, as enacted by Laws 1987, ch. 45, § 19, relating to imposition of federal regulations, effective May 16, 1990. For provisions of former section, see the 1989 NMSA 1978 on NMOneSource.com.
NM Stat § 7-25-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 25 - Resources Excise Tax|Section 7-25-1 - Short title.

Chapter 7, Article 25 NMSA 1978 may be cited as the "Resources Excise Tax Act". History: 1953 Comp., § 72-16A-20, enacted by Laws 1966, ch. 48, § 1; 1985, ch. 65, § 21. ANNOTATIONSCross references. — For provisions governing administration and enforcement, see 7-1-2 NMSA 1978. For duty of successor in business with respect to this act, see 7-1-61 NMSA 1978 et seq. Law reviews. — For comment, "Approaches to State Taxation of the Mining Industry," see 10 Nat. Resources J. 156 (1970). For article, "New Mexico's Effort at Rational Taxation of Hard-Minerals Extraction," see 10 Nat. Resources J. 415 (1970). For comment, "Coal Taxation in the Western States: The Need for a Regional Tax Policy," see 16 Nat. Resources J. 415 (1976). For comment, "Taxation of the Uranium Industry: An Economic Proposal," see 7 N.M. L. Rev. 69 (1976-77). Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 28 to 30, 614. 84 C.J.S. Taxation § 95 et seq.
NM Stat § 7-25-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 25 - Resources Excise Tax|Section 7-25-2 - Purpose.

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. History: 1953 Comp., § 72-16A-21, enacted by Laws 1966, ch. 48, § 2. ANNOTATIONSEffective dates. — Laws 1966, ch. 48, § 14 made Laws 1966, ch. 48, § 2 effective July 1, 1967. Primary purpose of Resources Excise Tax Act is to encourage the development of the extractive industries of this state through the imposition of rates that are a fraction of the gross receipts tax (see Sections 7-9-1 to 7-9-81 NMSA 1978). Carter & Sons, Inc. v. N.M. Bureau of Revenue, 1979-NMCA-025, 92 N.M. 591, 592 P.2d 191. Taxation of lumber business activities. — "Road maintenance" and "hauling" are an integral and indispensable part of a taxpayer's activity of severing timber and delivering it to a lumber mill and as such are exempt from the gross receipts tax (see Sections 7-9-1 to 7-9-81 NMSA 1978) by the provisions of Section 7-9-35 NMSA 1978, while being taxable under the Resources Excise Tax Act. Carter & Sons, Inc. v. N.M. Bureau of Revenue, 1979-NMCA-025, 92 N.M. 591, 592 P.2d 191. Am. Jur. 2d, A.L.R. and C.J.S. references. — 84 C.J.S. Taxation § 95 et seq.
NM Stat § 7-25-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 25 - Resources Excise Tax|Section 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". History: 1953 Comp., § 72-16A-23, enacted by Laws 1966, ch. 48, § 4; 1970, ch. 8, § 3; 1973, ch. 144, § 1; 1999, ch. 177, § 1; repealed and reenacted by 1999, ch. 177, § 2. ANNOTATIONSCross references. — For exemption of natural resource on which processors tax is paid, see 7-25-7 NMSA 1978. 1999 amendments. — Laws 1999, ch. 177, § 1, for tax years beginning July 1, 1999 and ending July 1, 2002, reduced the three-quarters of one percent tax on copper in Subsection A and provided for a resources tax on copper of one-fourth of one percent until July 1, 2002. See Laws 1999, ch. 177, § 5 for the applicability of Laws 1999, ch. 177, §§ 1 and 3. Laws 1999, ch. 177, § 2, applicable for the tax year beginning July 1, 2002, repealed and reenacted 7-25-4 NMSA 1978 to increase the resources tax on copper from one-fourth of one percent to three-quarters of one percent. See Laws 1999, ch. 177, § 6 for the applicability of Laws 1999, ch. 177, §§ 2 and 4. Law reviews. — For comment, "Approaches to State Taxation of the Mining Industry," see 10 Nat. Resources J. 156 (1970). For article, "New Mexico's Effort at Rational Taxation of Hard-Minerals Extraction," see 10 Nat. Resources J. 415 (1970). For comment, "Taxation of the Uranium Industry: An Economic Proposal," see 7 N.M. L. Rev. 69 (1976-77). For article, "Evaluating Congressional Limits on a State's Severance Tax Equity Interest in Its Natural Resources: An Essential Responsibility for the Supreme Court," see 22 Nat. Resources J. 673 (1982). Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 218, 614.
NM Stat § 7-25-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 25 - Resources Excise Tax|Section 7-25-5 - Rate and measure of tax; denomination as "processors 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". History: 1978 Comp., § 7-25-5, enacted by Laws 1985, (1st S.S.), ch. 3, §§ 1, 2; 1999, ch, 177, § 3; repealed and reenacted by Laws 1999, ch. 177, § 4. ANNOTATIONS1999 amendments. — Laws 1999, ch. 177, § 3, for tax years beginning July 1, 1999 and ending July 1, 2002, reduced the three-quarters of one percent processors tax on copper to one-fourth of one percent. See Laws 1999, ch. 177, § 5 for the applicability of Laws 1999, ch. 177, §§ 1 and 3. Laws 1999, ch. 177, § 4, applicable for the tax year beginning July 1, 2002, repealed and reenacted 7-25-5 NMSA 1978 to increase the processors tax on copper in Subsection A(1)from one-fourth of one percent to three-fourths of one percent. See Laws 1999, ch. 177, § 6 for the applicability of Laws 1999, ch. 177, §§ 2 and 4. Law reviews. — For comment, "Approaches to State Taxation of the Mining Industry," see 10 Nat. Resources J. 156 (1970). For article, "New Mexico's Effort at Rational Taxation of Hard-Minerals Extraction," see 10 Nat. Resources J. 415 (1970). For comment, "Taxation of the Uranium Industry: An Economic Proposal," see 7 N.M. L. Rev. 69 (1976-77). For article, "Evaluating Congressional Limits on a State's Severance Tax Equity Interest in Its Natural Resources: An Essential Responsibility for the Supreme Court," see 22 Nat. Resources J. 673 (1982). Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 218, 614. 84 C.J.S. Taxation § 95 et seq.
NM Stat § 7-25-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 25 - Resources Excise Tax|Section 7-25-6 - Rate and measure of tax; denomination as "service tax".

A. For the privilege of severing or processing in New Mexico natural resources that are owned by another person and are not otherwise taxed by Sections 7-25-4 and 7-25-5 NMSA 1978, there is imposed on the service charge of any person severing or processing natural resources that are owned by another person an excise tax at the same rate that would be imposed on an owner of natural resources for performing the same function. B. The tax imposed by this section shall be referred to as the "service tax". History: 1953 Comp., § 72-16A-25, enacted by Laws 1966, ch. 48, § 6; 1993, ch. 30, § 25. ANNOTATIONSThe 1993 amendment, effective June 18, 1993, substituted "Sections 7-25-4 and 7-25-5 NMSA 1978" for "Sections 4 and 5 of the Resources Excise Tax Act" in Subsection A. Severance alone does not give rise to taxable event. Yankee Atomic Elec. Co. v. N.M. & Ariz. Land Co., 632 F.2d 855 (10th Cir. 1980). Severance and sale, transportation or consumption triggers tax. — Severance, coupled with the sale, transportation out of New Mexico, or consumption thereof triggers the imposition of the tax. Yankee Atomic Elec. Co. v. N.M. & Ariz. Land Co., 632 F.2d 855 (10th Cir. 1980). Receipts from development work incidental to severing taxable under this section. — The exemption from the gross receipts tax provided by Section 7-9-35 NMSA 1978 applies when severing was taking place as the development work was performed and none of taxpayer's work was preliminary to or preparatory for severing; receipts from development work, which includes construction, are exempted from the gross receipts tax and taxable under the service tax provided by this section when such construction work is incidental to the severing. Patten v. Bureau of Revenue, 86 N.M. 355, 524 P.2d 527 (Ct. App. 1974). Law reviews. — For comment, "Approaches to State Taxation of the Mining Industry," see 10 Nat. Resources J. 156 (1970). For article, "New Mexico's Effort at Rational Taxation of Hard-Minerals Extraction," see 10 Nat. Resources J. 415 (1970). For comment, "Taxation of the Uranium Industry: An Economic Proposal," see 7 N.M.L. Rev. 69 (1976-77). Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation §§ 218, 614.
NM Stat § 7-25-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 25 - Resources Excise Tax|Section 7-25-7 - Exemption; resources tax.

Exempted from the resources tax is the taxable value of any natural resource that is processed in New Mexico and on whose taxable value the processors tax is paid. History: 1953 Comp., § 72-16A-26, enacted by Laws 1966, ch. 48, § 7. ANNOTATIONSEffective dates. — Laws 1966, ch. 48, § 14 made Laws 1966, ch. 48, § 7 effective July 1, 1967. Cross references. — For resources tax, see 7-25-4 NMSA 1978. For processors tax, see 7-25-5 NMSA 1978.
NM Stat § 7-25-8 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 25 - Resources Excise Tax|Section 7-25-8 - Sales of natural resources subject to Gross Receipts and 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. History: 1953 Comp., § 72-16A-27, enacted by Laws 1966, ch. 48, § 8; 1984, ch. 2, § 8. ANNOTATIONSCross references. — For exception to exemption from gross receipts tax of persons liable for resources excise tax, see 7-9-35 NMSA 1978.
NM Stat § 7-25-9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 25 - Resources Excise Tax|Section 7-25-9 - Date payment due.

The taxes imposed by the Resources Excise Tax Act are to be paid on or before the twenty-fifth day of the month following the month in which the first of the following occurs: sale, transportation out of New Mexico or consumption. History: 1953 Comp., § 72-16A-28, enacted by Laws 1966, ch. 48, § 9; 1970, ch. 43, § 1; 1977, ch. 235, § 1. ANNOTATIONSCross references. — For deposit of receipts in suspense fund, see 7-1-6 NMSA 1978.
NM Stat § 7-26-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 26 - Severance Tax|Section 7-26-1 - Short title.

Sections 7-26-1 through 7-26-8 NMSA 1978 may be cited as the "Severance Tax Act". History: Laws 1971, ch. 65, § 1; 1953 Comp., § 72-18-1; Laws 1977, ch. 102, § 3; 1985, ch. 65, § 23. ANNOTATIONSCross references. — For provisions governing administration and enforcement, see 7-1-2 NMSA 1978. For oil and gas severance tax, see 7-29-1 to 7-29-23 NMSA 1978. Law reviews. — For comment, "Approaches to State Taxation of the Mining Industry," see 10 Nat. Resources J. 156 (1970). For article, "New Mexico's Effort at Rational Taxation of Hard-Minerals Extraction," see 10 Nat. Resources J. 415 (1970). For comment, "Coal Taxation in the Western States: The Need for a Regional Tax Policy," see 16 Nat. Resources J. 415 (1976). For comment, "Taxation of the Uranium Industry: An Economic Proposal," see 7 N.M.L. Rev. 69 (1976-77). For comment, "Constitutional Limitations On State Severance Taxes," see 20 Nat. Resources J. 887 (1980). For comment, "An Outline For Development of Cost-Based State Severance Taxes," see 20 Nat. Resources J. 913 (1980). For article, "Evaluating Congressional Limits on a State's Severance Tax Equity Interest in Its Natural Resources: An Essential Responsibility for the Supreme Court," see 22 Nat. Resources J. 673 (1982). For article, "State Policies and Practices in Coal Severance Taxation," see 27 Nat. Resources J. 591 (1987). Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation § 614. Tax on severance of natural resources from soil, 32 A.L.R. 827. Severance tax as property tax or privilege tax, 103 A.L.R. 35.
NM Stat § 7-26-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 26 - Severance Tax|Section 7-26-2 - Definitions.

As used in the Severance Tax Act: A. "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; B. "natural resource" means timber and any metalliferous or nonmetalliferous mineral product, combination or compound thereof but does not include oil, natural gas, liquid hydrocarbon, individually or any combination thereof, or carbon dioxide; C. "severer" means any person engaging in the business of severing natural resources that the person owns or any person who is the owner of natural resources and has another person perform the severing of such natural resources; D. "severing" means mining, quarrying, extracting, felling or producing any natural resources in New Mexico; E. "owner", when used in connection with the severing of any of the natural resources covered by the Severance Tax Act under any lease or contract with the state or United States, includes any person having the right to sever those resources; and F. "director" or "secretary" means the secretary of taxation and revenue. History: Laws 1937, ch. 103, § 2; C.S. 1929, § 97-4A-102; 1941 Comp., § 76-1302; Laws 1949, ch. 65, § 2; 1951, ch. 24, § 1; 1953 Comp., § 72-18-2; Laws 1957, ch. 79, § 1; 1959, ch. 52, § 27; 1961, ch. 98, § 2; 1970, ch. 8, § 2; 1974, ch. 61, § 1; 1977, ch. 102, § 4; 1985, ch. 65, § 24; 1986, ch. 20, § 92. ANNOTATIONSLaw reviews. — For comment, "Constitutional Limitations On State Severance Taxes," see 20 Nat. Resources J. 887 (1980). For comment, "An Outline For Development of Cost-Based State Severance Taxes," see 20 Nat. Resources J. 913 (1980). For article, "State Policies and Practices in Coal Severance Taxation," Nat. Resources J. 591 (1987).
NM Stat § 7-26-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 26 - Severance Tax|Section 7-26-3 - Imposition of tax; denomination as "severance tax".

For the privilege of severing natural resources, there is imposed on any severer of natural resources in New Mexico an excise tax on the taxable value or the quantity of natural resources severed and saved by or for him as determined under, and at the rates provided in the Severance Tax Act. The tax imposed by this section shall be known as the "severance tax". History: 1953 Comp., § 72-18-3, enacted by Laws 1971, ch. 65, § 5; 1977, ch. 102, § 5. ANNOTATIONSResponsibility for payment attaches at time of sale. — The legal incidence or the responsibility for the payment of the severance tax attaches at the time that a sale is made. United Nuclear Corp. v. Revenue Div., 1982-NMCA-067, 98 N.M. 296, 648 P.2d 335, cert. denied, 98 N.M. 336, 648 P.2d 794. Responsibility for payment falls upon severer of resource. — The legal incidence or the responsibility for the payment of the tax falls on the taxpayer who is the severer of the natural resource. United Nuclear Corp. v. Revenue Div., 1982-NMCA-067, 98 N.M. 296, 648 P.2d 335, cert. denied, 98 N.M. 336, 648 P.2d 794. Law reviews. — For comment, "Approaches to State Taxation of the Mining Industry," see 10 Nat. Resources J. 156 (1970). For article, "New Mexico's Effort at Rational Taxation of Hard-Minerals Extraction," see 10 Nat. Resources J. 415 (1970). For comment, "Taxation of the Uranium Industry: An Economic Proposal," see 7 N.M.L. Rev. 69 (1976-77). For article, " 'New Mexican Nationalism' and the Evolution of Energy Policy in New Mexico," see 17 Nat. Resources J. 283 (1977). For comment, "Constitutional Limitations On State Severance Taxes," see 20 Nat. Resources J. 887 (1980). For comment, "An Outline For Development of Cost-Based State Severance Taxes," see 20 Nat. Resources J. 913 (1980). Am. Jur. 2d, A.L.R. and C.J.S. references. — 71 Am. Jur. 2d State and Local Taxation § 614. Tax on severance of natural resources from soil, 32 A.L.R. 827. Severance tax as property tax or privilege tax, 103 A.L.R. 35.
NM Stat § 7-26-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 26 - Severance Tax|Section 7-26-5 - Tax rates on severed natural resources except coal and uranium.

The severance tax is imposed at the following rates on the taxable value determined under Section 7-26-4 NMSA 1978 of the following natural resources: A. potash 2 1/2% B. copper 1/2% C. timber 1/8% D. pumice, gypsum, sand, gravel, clay, fluorspar and other nonmetallic minerals 1/8% E. lead, zinc, thorium, molybdenum, manganese, rare earth and other metals 1/8% F. gold and silver 1/5% History: 1953 Comp., § 72-18-5, enacted by Laws 1977, ch. 102, § 7; 1984, ch. 84, § 2. ANNOTATIONSRepeals. — Laws 1971, ch. 65, § 7, repealed former 72-18-5, 1953 Comp., relating to security to insure compliance with severance tax provisions. Law reviews. — For comment, "Constitutional Limitations On State Severance Taxes," see 20 Nat. Resources J. 887 (1980). For comment, "An Outline for Development of Cost-Based State Severance Taxes," see 20 Nat. Resources J. 913 (1980).
NM Stat § 7-26-6.1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 26 - Severance Tax|Section 7-26-6.1 - Repealed.

ANNOTATIONSRepeals. — Laws 1985, ch. 65, § 46 repealed 7-26-6.1 NMSA 1978, as enacted by Laws 1980, ch. 62, § 9, relating to a credit for the payment of additional coal severance taxes, effective July 1, 1985.