New Mexico Administrative Code
Title 3 - TAXATION
Chapter 19 - SEVERANCE TAX
Part 4 - VALUE OF MINERALS
Section 3.19.4.13 - PROCESSING OF TIMBER
Universal Citation: 3 NM Admin Code 3.19.4.13
Current through Register Vol. 35, No. 18, September 24, 2024
A. For purposes of the Resources Excise Tax Act, processing of timber ends when the timber has been sawn into rough green lumber. The processing tax due is measured by the value of the rough green lumber.
B. If rough green lumber is brought into this state, the processing tax is not due with respect to such lumber. If logs are sawed in New Mexico, the processing tax is due regardless of whether the logs were severed in New Mexico or elsewhere.
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