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.
§ 7-25-2 NMSA 1978
Purpose
Known as the Resources Excise Tax Act
The act spans §§ 7–7 (9 sections).
1953 Comp., § 72-16A-21, enacted by Laws 1966, ch. 48, § 2.
Official source: NMOneSource (New Mexico Compilation Commission). Reproduced from public-domain New Mexico statutes; confirm against the official source for the current text. Not legal advice.