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2011 New Mexico Statutes
Chapter 7: Taxation
Article 25: Resources Excise Tax, 7-25-1 through 7-25-9
Section 7-25-2: Purpose.


NM Stat § 7-25-2 (1996 through 1st Sess 50th Legis) What's This?

7-25-2. Purpose.

The purpose of the Resources Excise Tax Act [7-25-1 NMSA 1978] is to provide revenue for public purposes by levying a tax on the privilege of severing and processing natural resources within New Mexico.

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