Section 7-33-2 - Definitions. - New Mexico Statutes

7-33-2. Definitions.

As used in the Natural Gas Processors Tax Act:   

A.     "average annual taxable value" means the average of the taxable value per mcf, determined pursuant to Section 7-31-5 NMSA 1978, of all natural gas produced in New Mexico for the specified calendar year as determined by the department;   

B.     "department" means the taxation and revenue department, the secretary of taxation and revenue or any employee of the department exercising authority lawfully delegated to that employee by the secretary;   

C.     "fiscal year" means the period starting July 1 and ending June 30 of the succeeding calendar year;   

D.     "mcf" means one thousand cubic feet;   

E.     "mmbtu" means one million British thermal units;   

F.     "natural gas" means any hydrocarbon that at atmospheric conditions of temperature and pressure is in a gaseous state, and includes non-hydrocarbon gases that are in combination with hydrocarbon gases;   

G.     "natural gas processing plant" means a facility used to extract liquid hydrocarbons and non-hydrocarbon gaseous or liquid substances, individually or in any combination, from natural gas, but does not include a facility that refines or processes oil, natural gas or liquid hydrocarbons or that extracts substances from natural gas through a field or lease operation;   

H.     "person" means any individual, estate, trust, receiver, business trust, corporation, firm, copartnership, cooperative, joint venture, association or other group or combination acting as a unit;   

I.     "processor" means a person who operates a natural gas processing plant; and   

J.     "tax" means the natural gas processors tax.