N.M. Admin. Code § 3.19.4.13

Current through Register Vol. 35, No. 21, November 5, 2024

Section 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