{"id":2057,"date":"2020-10-23T11:27:36","date_gmt":"2020-10-23T17:27:36","guid":{"rendered":"https:\/\/www.tax.newmexico.gov\/governments\/?p=2057"},"modified":"2020-10-23T11:27:38","modified_gmt":"2020-10-23T17:27:38","slug":"conservation-tax","status":"publish","type":"post","link":"https:\/\/www.tax.newmexico.gov\/governments\/2020\/10\/23\/conservation-tax\/","title":{"rendered":"Conservation Tax"},"content":{"rendered":"

[et_pb_section fb_built=”1″ _builder_version=”4.6.6″ _module_preset=”default”][et_pb_row _builder_version=”4.6.6″ _module_preset=”default”][et_pb_column type=”4_4″ _builder_version=”4.6.6″ _module_preset=”default”][et_pb_text _builder_version=”4.6.6″ _module_preset=”default” hover_enabled=”0″ sticky_enabled=”0″]<\/p>\n

Owners of coal, uranium or geothermal energy in New Mexico are subject to the conservation tax established by\u00a0<\/span>Section 7-30 NMSA 1978<\/a>.<\/p>\n

The taxable value of coal is determined under\u00a0Section 7-25-3 NMSA<\/a>\u00a0<\/span>after royalties paid or due to any Indian tribe, Indian pueblo, or Indian that is a ward of the United States.<\/p>\n

The taxable value of uranium is 25% of the difference between the taxable value defined under\u00a0<\/span>Section 7-25-3 NMSA 1978<\/a>\u00a0<\/span>and royalties paid or due any Indian tribe, Indian pueblo, or Indian that is a ward of the United States.<\/p>\n

The taxable value of geothermal energy is the value at the point of first sale, less the cost of transporting it from the point of severance to the point of first sale, less royalties paid or due the United States or the state of New Mexico or any Indian tribe, Indian pueblo, or Indian that is a ward of the United States.<\/p>\n

The tax rate is nineteen-hundredths of one percent of the taxable value of the product sold. The Conservation Tax returns and payments are due by the 25th day of the month after the month of production.<\/p>\n

We deposit the revenue to the Extraction Taxes Suspense Fund, from which refunds may be made. During periods in which the tax rate is .19%, 2\/19 of the total collection is deposited in the Oil and Gas Reclamation Fund. The remainder is transferred to the General Fund.<\/p>\n

Contact Information
New Mexico Taxation and Revenue Department
P.O. Box 2308
Santa Fe, NM 87504-2305<\/p>\n

For assistance, call (505) 827-0958<\/p>\n

Links<\/h3>\n

Manage your account online<\/a>
Who Must Register?<\/a>
New Mexico Energy, Minerals, and Natural Resources Department<\/a>
RPD-41120, Conservation Tax Report<\/a>
ACD-31015 Business Tax Registration<\/a><\/p>\n

Conservation Tax Forms and Documents<\/h3>\n