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Natural Gas Processor Tax

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Severance Tax - Non Oil & Gas

A taxpayer may qualify for a credit against curre... Read More


For the privilege of severing natural resources in New Mexico, the severer is subject to an excise tax on the ... Read More


Timber and any timber product, and any metalliferous or non-metalliferous mineral product, combination or comp... Read More


If you file for the severance tax, you must file for the resource excise tax.


“Severing” means: mining, quarrying, extracting, felling or producing any natural resource in New ... Read More


Severance tax rates are:

  • Potash is 2 1/2% of taxable value
  • Copper is 1/2% of taxable value
  • Timber is 1/8% of taxa... Read More

Oil & Gas Production Taxes

The tax credit applies only to “qualifying wells.” It is calculated ... Read More


Pay the tax on or before the 25th day of the month following the month in which the taxable event occurs unles... Read More


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