New Mexico Administrative Code
Title 3 - TAXATION
Chapter 19 - SEVERANCE TAX
Part 4 - VALUE OF MINERALS
Section 3.19.4.11 - ORE SEVERED BY PERSON NOT THE OWNER
Universal Citation: 3 NM Admin Code 3.19.4.11
Current through Register Vol. 35, No. 18, September 24, 2024
The owner of metal ores which are severed by another person, and not processed in the state, is liable for the resources tax at the appropriate rate specified in Section 7-25-4 NMSA 1978 times the taxable value of the severed ores, less the amount of the service charge paid to the person severing the ores. The person severing the metal ores is subject to the service tax on the amount of the service charge.
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