Section 7-31-5 - Taxable value; method of determining

To determine the taxable value there shall be deducted from the value of products: A. royalties paid or due the United States or the state of New Mexico; B. royalties paid or due any Indian tribe, Indian pueblo or Indian that is a ward of the United States of America; and C. the reasonable expense of trucking any product from the production unit to the first place of market. History: 1953 Comp., § 72-21-5, enacted by Laws 1959, ch. 54, § 5; 1963, ch. 179, § 25.