N.M. Code R. § 3.19.4.13 – Processing of Timber

A. For purposes of the Resources Excise Tax Act, processing of timber ends when the timber has been sawn into rough green lumber. The processing tax due is measured by the value of the rough green lumber.
B. If rough green lumber is brought into this state, the processing tax is not due with respect to such lumber. If logs are sawed in New Mexico, the processing tax is due regardless of whether the logs were severed in New Mexico or elsewhere.
[10/31/97; 3.19.4.13 NMAC - Rn, 3 NMAC 19.4.13, 1/15/01]
HISTORY OF 3.19.4 NMAC:
Pre-NMAC History: The material in this part was derived from that previously filed with the State Records Center:
R.D. 78-1, Severance Tax Regulation 4:1, filed 7/7/78.
R.D. - Sev. Regulation 4:2, Regulation Pertaining to Valuation of Natural Resources Severance Tax Act, Section 7-26-4 NMSA 1978, Laws 1984, Chapter 84, Section 1, filed 8/14/84.
History of Repealed Material: [RESERVED]
NMAC History:
3 NMAC 19.4, Severance Tax - Value of Minerals, filed 7/18/96.
3.19.4 NMAC, Severance Tax - Value of Minerals, filed 1/4/01.