NEW MEXICO 
Severance Tax. 
1961. 
Statutes 1953, Secs. 72-18-1 to 28. 
Laws of 1949 Ch. 65, See. 2. 
Persons subject to tax 
Owners of natural resources severed from the 
soil. The Commissioner of Revenue may permit or 
require the first purchaser of severed products to 
pay the tax rather than the owner. 
Rate of tax 
Lath oS eS be ae See ee eee 
Tax administration 
Reports. Persons actually severing natural 
resources must file monthly reports with the 
Bureau of Revenue showing kind, gross quantity 
and value of products severed, names of owners, 
location where severed and other information. 
Provision is also made for monthly reports by 
purchasers, dealers and transporters of forest 
products. Purchasers and dealers must furnish 
names and addresses of persons from whom 
severed products in a natural state were purchased, 
together with the total quantity of such products 
purchased. 
53 
Mandatory. Enacted 1937. Amended 1949, 1951, and 
Exemption 
The taxpayer is granted an exemption of 
$200,000 annually which shall be deducted from 
the gross value before computing the tax. 
ly percent of gross value defined as the sales value 
of the severed product at the first marketable 
point. 
Collection. Taxes are payable to the Bureau of 
Revenue when rendering monthly reports. Persons 
severing natural resources must collect and with- 
hold, out of the value of products severed, the 
proportionate parts of the total tax due by the 
respective owners of the severed products at time 
of severance. 
Use of Revenue 
Tax collections are credited to the general funds 
of the State after deduction of 3 percent for costs 
of administration. 
