N.M. Admin. Code § 3.19.4.8
Current through Register Vol. 35, No. 21, November 5, 2024
Section 3.19.4.8 - GROSS VALUE OF SAND AND GRAVELA. 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.N.M. Admin. Code § 3.19.4.8
7/7/78, 7/31/96; 3.19.4.8 NMAC - Rn, 3 NMAC 19.4.8, 1/15/01