New Mexico Statutes Chapter 7. Taxation § 7-34-2. Definitions

A. “commission”, “department” or “division” means the taxation and revenue department, the secretary of taxation and revenue or any employee of the department exercising authority lawfully delegated to that employee by the secretary;

B. “person” means any individual, estate, trust, receiver, business trust, corporation, firm, copartnership, cooperative, joint venture, association or other group or combination acting as a unit;

C. “operator” means any person engaged in the severance of products from a production unit;

D. “product” means oil, natural gas or liquid hydrocarbon, individually or any combination thereof, carbon dioxide, helium or a non-hydrocarbon gas;

E. “severance” means taking any product from the soil in any manner;

F. “production unit” means a unit of property designated by the department from which products of common ownership are severed;

G. “equipment” means wells and nonmobile equipment used at a production unit in connection with severance, treatment or storage of production unit products;

H. “value” means the actual price received for products at the production unit as established under the Oil and Gas Ad Valorem Production Tax Act;

I. “assessed value” means the value against which tax rates are applied; and

J. “tax” means the oil and gas production equipment ad valorem tax.