7-26-5. Tax rates on severed natural resources except coal and
82 words·~1 min read·
/nm/chapter-7-taxation/article-26-severance-tax/7-26-5·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
uranium.
The severance tax is imposed at the following rates on the taxable value determined under Section 7-26-4 NMSA 1978 of the following natural resources:
A. potash 2 1/2%
B. copper 1/2%
C. timber 1/8%
D. pumice, gypsum, sand, gravel, clay, fluorspar and other nonmetallic 1/8%
minerals
E. lead, zinc, thorium, molybdenum, manganese, rare earth and other 1/8%
metals
F. gold and silver 1/5%
History: 1953 Comp., § 72-18-5, enacted by Laws 1977, ch. 102, § 7; 1984, ch. 84, § 2.