New Mexico Administrative Code
Title 3 - TAXATION
Chapter 18 - OIL AND GAS TAXES (SEVERANCE TAX)
Part 3 - IMPOSITION OF TAX - RATES
Section 3.18.3.8 - PRODUCTION RESTORATION TAX INCENTIVE EXEMPTION REQUIREMENTS

To qualify a well for the production restoration incentive tax exemption, the oil conservation division of the energy, minerals and natural resources department must certify both the process used to restore the well to production and that the well produced for thirty or fewer days within a 24-month period beginning on or after January 1, 1993. To obtain the exemption, the person responsible for paying the oil and gas severance tax must apply on form RPD 41170, completed in accordance with instructions of the department. Application for the exemption must be made within 6 months after the date the oil conservation division certifies that production has been restored.