{"data":{"id":"us-nm/7-29-4.1","jurisdiction":"us-nm","citation":"7-29-4.1","heading":"Taxable value; method of determining.","body":"To determine the taxable value of oil and of other liquid hydrocarbons removed from natural gas at or near the wellhead, of carbon dioxide, of helium, of non-hydrocarbon gases, of natural gas from new production natural gas wells and of natural gas severed after June 30, 1990, there shall be deducted from the value of products:\nA. royalties paid or due the United States or the state of New Mexico;\nB. royalties paid or due any Indian tribe, Indian pueblo or Indian that is a ward of the United States of America; and\nC. the reasonable expense of trucking any product from the production unit to the first place of market.","path":["Chapter 7 - Taxation","ARTICLE 29 Oil and Gas Severance Tax"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18507/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"d036eae1f9a7ff8c93fe36caced276dacde48b80f8e835729c2d3c25f07bc6b5","source_id":"us-nm","stale":false,"prev":"us-nm/7-29-4","next":"us-nm/7-29-4.2"},"notice":"GroundRules: Original legal text. Not legal advice."}