7-25-2. Purpose.
44 words·~1 min read·
/nm/chapter-7-taxation/article-25-resources-excise-tax/7-25-2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The purpose of the Resources Excise Tax Act 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.