Exemption; gross receipts tax; oil and gas or mineral interests.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Gross Receipts and Compensating Tax
  5. Exemption; gross receipts tax; oil and gas or mineral interests.

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Exempted from the gross receipts tax are the receipts from the sale of or leasing of oil, natural gas or mineral interests.

History: 1953 Comp., § 72-16A-12.20, enacted by Laws 1969, ch. 144, § 25.

ANNOTATIONS

Effective dates. — Laws 1969, ch. 144, § 68 made Laws 1969, ch. 144, § 25 effective July 1, 1969.

Am. Jur. 2d, A.L.R. and C.J.S. references. — Mining exemption from sales or use tax, 47 A.L.R.4th 1229.


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