There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 7: Taxation
Article 25: Resources Excise Tax, 7-25-1 through 7-25-9
Section 7-25-8: Sales of natural resources subject to Gross Receipts and Compensating Tax Act.
Universal Citation:
NM Stat § 7-25-8 (1996 through 1st Sess 50th Legis)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
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 [7-9-1 NMSA 1978] on such sales.
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