There is a newer version of the New Mexico Statutes
2013 New Mexico Statutes
Chapter 7 - Taxation
Article 25 - Resources Excise Tax
Section 7-25-2 - Purpose. (1966)
NM Stat § 7-25-2 (2013) What's This?
7-25-2. Purpose. (1966)
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.
History: 1953 Comp., § 72-16A-21, enacted by Laws 1966, ch. 48, § 2.
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