1. All NM Taxes
  2. Author: admin@sks.com

admin@sks.com

How do I change my registration information?

To change registration information for: Cigarette TaxGaming TaxLiquor Excise TaxLocal Liquor Excise TaxTelecommunications Relay Service SurchargeWater Conservation FeeUse Form ACD-31015 Business Tax Registration to make changes and submit to the following address:...

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Are there any tax credits related to this tax program?

A taxpayer may qualify for a credit against current coal severance taxes if the coal is severed from Indian tribal land or if a tax is imposed on the privilege of severing coal from Indian tribal land. This credit is called the Intergovernmental Coal Severance Tax...

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What is the purpose of the severance tax?

For the privilege of severing natural resources in New Mexico, the severer is subject to an excise tax on the taxable value of the quantity of natural resources severed and saved by or for him as determined under, and at the rates provided by the Severance Tax Act.

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What are the severance tax rates?

Severance tax rates are: Potash is 2 1/2% of taxable valueCopper is 1/2% of taxable valueTimber is 1/8% of taxable valuePumice, gypsum, sand, gravel, clay, fluorspar and other nonmetallic minerals are 1/8% of taxable valueLead, zinc, thorium, molybdenum, manganese,...

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