Statutes > New Mexico Statutes > Chapter 7 - Taxation. > Article 9 - Gross Receipts and Compensating Tax, 7-9-1 through 7-9-114. > Section 7-9-32 - Exemption; gross receipts tax; oil and gas or mineral interests.

Section 7-9-32 - Exemption; gross receipts tax; oil and gas or mineral interests.

7-9-32. Exemption; gross receipts tax; oil and gas or mineral interests.

Exempted from the gross receipts tax are the receipts from the sale of or leasing of oil, natural gas or mineral interests.