Section 7-26-5 - Tax rates on severed natural resources except coal and uranium. - New Mexico Statutes

7-26-5. Tax rates on severed natural resources except coal and 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 minerals     1/8%

E.     lead, zinc, thorium, molybdenum, manganese, rare earth and other metals     1/8%

F.     gold and silver     1/5%