Section 7-26-11 – Repealed.
ANNOTATIONS Repeals. — Laws 1995, ch. 70, § 23 repealed 7-26-11 NMSA 1978, as enacted by Laws 1980, ch. 62, § 12, relating to prohibition of double taxation, effective July 1, 1995. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
Section 7-26-6.1 – Repealed.
ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-26-6.1 NMSA 1978, as enacted by Laws 1980, ch. 62, § 9, relating to a credit for the payment of additional coal severance taxes, effective July 1, 1985.
Section 7-26-6.2 – Coal surtax exemption; qualification requirements.
A. The following coal is exempt from the surtax imposed on coal under the provisions of Section 7-26-6 NMSA 1978: (1) coal sold and delivered pursuant to coal sales contracts that are entered into on or after July 1, 1990, under which deliveries start after July 1, 1990, if the sales contracts are not the […]
Section 7-26-7 – Severance tax on uranium.
The severance tax on uranium is measured by the quantity of U3O8 contained in and recoverable from severed and saved uranium-bearing material whether that material is ore or solution, measured in a standard manner established by regulation of the director. The taxable event is the sale, transportation out of New Mexico or consumption of the […]
Section 7-26-7.1 – Repealed.
ANNOTATIONS Repeals. — Laws 1985, ch. 65, § 46 repealed 7-26-7.1 NMSA 1978, as enacted by Laws 1980, ch. 62, § 10, relating to temporary credit for a uranium producer, effective July 1, 1985.
Section 7-26-8 – Date payment of tax due.
The severance tax is to be paid on or before the twenty-fifth day of the month following the month in which the taxable event occurs. History: 1953 Comp., § 72-18-8, enacted by Laws 1977, ch. 102, § 10. ANNOTATIONS Repeals. — Laws 1971, ch. 65, § 7, repealed former 72-18-8, 1953 Comp., relating to deduction […]
Section 7-26-9 – Repealed.
ANNOTATIONS Repeals. — Laws 1989, ch. 261, § 2 repealed 7-26-9 NMSA 1978, as enacted by Laws 1977, ch. 102, § 14, relating to severance tax surtax, effective July 1, 1989.
Section 7-26-10 – Repealed.
ANNOTATIONS Repeals. — Laws 1995, ch. 70, § 23 repealed 7-26-10 NMSA 1978, as enacted by Laws 1977, ch. 102, § 1, relating to the purpose of the act, effective July 1, 1995. For provisions of former section, see the 1994 NMSA 1978 on NMOneSource.com.
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. ANNOTATIONS Cross references. — For provisions governing administration and enforcement, see 7-1-2 NMSA 1978. For oil and gas severance […]
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 […]