There Is a Newer Version
of
the New Mexico Statutes
2011 New Mexico Statutes
Chapter 7: Taxation
Article 34: Oil and Gas Production Equipment Ad Valorem Tax, 7-34-1 through 7-34-20
Section 7-34-5: Oil and gas production equipment ad valorem tax to be exclusive measure of ad valorem tax liability.
Universal Citation:
NM Stat § 7-34-5 (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.
7-34-5. Oil and gas production equipment ad valorem tax to be exclusive measure of ad valorem tax liability.
The tax levied by Section 7-34-4 NMSA 1978 shall be the full and exclusive measure of ad valorem tax liability for equipment used at a production unit for the calendar year 1969 and all subsequent years. Any other ad valorem tax on equipment used at a production unit is void.
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