§ 7-33-2. Definitions

As used in the Natural Gas Processors Tax Act: A. “ average annual taxable value ” means the average of the taxable value per mcf, determined pursuant to Section 7-31-5 NMSA 1978 , of all natural gas produced in New Mexico for the specified calendar year as determined by the department; B. “ department ” 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; C. “ fiscal year ” means the period starting July 1 and ending June 30 of the succeeding calendar year; D. “ mcf ” means one thousand cubic feet; E. “ mmbtu ” means one million British thermal units; F. “ natural gas ” means any hydrocarbon that at atmospheric conditions of temperature and pressure is in a gaseous state, and includes non-hydrocarbon gases that are in combination with hydrocarbon gases; G. “ natural gas processing plant ” means a facility used to extract liquid hydrocarbons and non-hydrocarbon gaseous or liquid substances, individually or in any combination, from natural gas, but does not include a facility that refines or processes oil, natural gas or liquid hydrocarbons or that extracts substances from natural gas through a field or lease operation; H. “ 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; I. “ processor ” means a person who operates a natural gas processing plant; and J. “ tax ” means the natural gas processors tax.