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.
§ 7-25-7 NMSA 1978
Exemption; resources tax
Known as the Resources Excise Tax Act
The act spans §§ 7–7 (9 sections).
1953 Comp., § 72-16A-26, enacted by Laws 1966, ch. 48, § 7.
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.