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.
Effective 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.
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