Exempted from the resources tax is the taxable value of any natural resource that is processed in New Mexico and on whose taxable value the processors tax is paid. History: 1953 Comp., § 72-16A-26, enacted by Laws 1966, ch. 48, § 7. ANNOTATIONSEffective dates. — Laws 1966, ch. 48, § 14 made Laws 1966, ch. 48, § 7 effective July 1, 1967. Cross references. — For resources tax, see 7-25-4 NMSA 1978. For processors tax, see 7-25-5 NMSA 1978.
New Mexico Legal Code