N.M. Code R. § 3.19.4.8
Gross Value of Sand and Gravel
State of New Mexico
- A. In the absence of substantial evidence of a different posted field or market price for sand and gravel, it is presumed that the gross value of sand and gravel for purposes of the Severance Tax Act is $1.75 per ton.
B. In the absence of evidence of lower deductible expenses the maximum 50% deduction will be allowed.
[7/7/78, 7/31/96; 3.19.4.8 NMAC - Rn, 3 NMAC 19.4.8, 1/15/01]