{"id":1428,"date":"2020-10-21T16:12:00","date_gmt":"2020-10-21T22:12:00","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/businesses\/?p=1428"},"modified":"2026-04-11T13:12:50","modified_gmt":"2026-04-11T19:12:50","slug":"resources-excise-tax","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/businesses\/2020\/10\/21\/resources-excise-tax\/","title":{"rendered":"Resources Excise Tax"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_row _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;][et_pb_text _builder_version=&#8221;4.27.4&#8243; _module_preset=&#8221;default&#8221; hover_enabled=&#8221;0&#8243; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221; sticky_enabled=&#8221;0&#8243;]<\/p>\n<p>The Resources Excise Tax Act consists of three taxes on activities related to natural resources in New Mexico. Natural resources include timber and mineral products but do not include oil, natural gas, liquid hydrocarbons, carbon dioxide, helium or non-hydrocarbon gas.<\/p>\n<ul>\n<li>Any severer of natural resources in New Mexico owes resources tax on the taxable value of the severed resources as follows:<\/li>\n<li>All natural resources, except potash and molybdenum\u2014three-fourths of one percent (0.75%);<\/li>\n<li>Potash, one-half of one percent (0.5%), and<\/li>\n<li>Molybdenum, one-eighth of one percent (0.125%)<\/li>\n<li>Any processor of natural resources in New Mexico owes processors tax at the following rates on the taxable value of the natural resource:<\/li>\n<li>All natural resources except timber, potash, and molybdenum \u2013 three-fourths of one percent (0.75%);<\/li>\n<li>Timber \u2013 three-eighths of one percent (0.375%);<\/li>\n<li>Potash \u2013 one-eighth of one percent (0.125%), and<\/li>\n<li>Molybdenum \u2013 one-eighth of one percent (0.125%)<\/li>\n<\/ul>\n<p>A severer or processor of natural resources owned by another person and not otherwise taxed under the Act owes service tax at the same rate that would be imposed on an owner of the natural resources for performing the same function.<\/p>\n<p>The resource excise tax is paid on or before the twenty-fifth (25th) day of the month following the month in which the taxable event occurs.<\/p>\n<p>We deposit the revenue from these taxes in the Extraction Taxes Suspense Fund; the balance, after refunds, is transferred monthly to the General Fund.<\/p>\n<h3>Contact Information<\/h3>\n<p>New Mexico Taxation and Revenue Department<br \/>P.O. Box 2308<br \/>Santa Fe, NM 87504-2308<\/p>\n<p>For assistance, call (505) 827-0808<\/p>\n<h3>Links<\/h3>\n<p><strong><a href=\"https:\/\/tap.state.nm.us\/Tap\/_\/\" target=\"_blank\" rel=\"noopener noreferrer\">Online Services<\/a><\/strong><br \/><strong><a href=\"https:\/\/tap.state.nm.us\/Tap\/_\/\" target=\"_blank\" rel=\"noopener\">Who Must Register?<\/a><\/strong><br \/><strong><a href=\"https:\/\/realfile.tax.newmexico.gov\/rpd-41038.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">RPD-41038, Resource Excise Tax Return Form and Instructions<\/a><\/strong><br \/>Statutory Reference: Look for<span>\u00a0<\/span><a href=\"http:\/\/www.nmonesource.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Chapter 7, Article 25 NMSA 1978<\/strong><\/a><span>\u00a0<\/span>in the New Mexico State Statutes.<\/p>\n<h3>Resource Excise Tax Forms and Documents<\/h3>\n<p>[\/et_pb_text][et_pb_code _builder_version=&#8221;4.16&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<div class=\"rf-table\" data-public=1 data-account-guid=\"34821a9573ca43e7b06dfad20f5183fd\" data-folder-id=\"bad2f2e6-6360-4cbd-b260-d1bd9828989d\" data-widget-id=\"b497d0d4-1122-4426-8c9c-0579cc9976a3\"><\/div>\n<p>[\/et_pb_code][et_pb_text _builder_version=&#8221;4.20.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221; theme_builder_area=&#8221;post_content&#8221;]<\/p>\n<p><strong><a href=\"\/businesses\/other-all-nm-taxes\/\">back to list<\/a><\/strong><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Resources Excise Tax Act consists of three taxes on activities related to natural resources in New Mexico. Natural resources include timber and mineral products but do not include oil, natural gas, liquid hydrocarbons, carbon dioxide, helium or non-hydrocarbon gas. Any severer of natural resources in New Mexico owes resources tax on the taxable value [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"960","footnotes":""},"categories":[23],"tags":[],"class_list":["post-1428","post","type-post","status-publish","format-standard","hentry","category-all-nm-taxes"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Resources Excise Tax : Businesses<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tax.newmexico.gov\/businesses\/2020\/10\/21\/resources-excise-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Resources Excise Tax : Businesses\" \/>\n<meta property=\"og:description\" content=\"The Resources Excise Tax Act consists of three taxes on activities related to natural resources in New Mexico. Natural resources include timber and mineral products but do not include oil, natural gas, liquid hydrocarbons, carbon dioxide, helium or non-hydrocarbon gas. 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