Section 7-31-5 - Taxable value; method of determining. - New Mexico Statutes

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.