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House Bill 133 would amend New Mexico’s Oil and Gas Act to increase required bonding payments oil companies pay to fund the cleanup of their wells should they go abandoned, while also driving up ...
The bill would raise the royalty rate oil and gas drillers pay to operate on State Trust land from 20 to 25 percent. It could become more expensive to drill for oil on New Mexico state land ...
Oil and gas industry leaders in New Mexico touted about $13.9 billion in New Mexico revenue from fossil fuels in the last fiscal year, a 32 percent increase from the year before.. In its annual ...
The oil depletion allowance in American (US) tax law is a tax break claimable by anyone with an economic interest in a mineral deposit or standing timber. [citation needed] The principle is that the asset is a capital investment that is a wasting asset, and therefore depreciation can reasonably be offset (effectively as a capital loss) against income.
Public libraries in New York began charging overdue fees in the late 1800s at a rate of 1 cent/day. That increased to 2 cents/day in 1954 and 5 cents/day in 1959. Before removing late fees in October 2021, the most common fee among New York City public libraries was 25 cents/day. [3]
SANTA FE, N.M. (AP) — Efforts by New Mexico to save and invest portions of a financial windfall from local oil production are paying off as state government income on investments surpasses ...
Penalty interest, also called penalty APR (penalty annual percentage rate), [1] default interest, interest for/on late payment, statutory interest for/on late payment, [2] [3] interest on arrears, or penal interest, in money lending and in sales contracts is punitive interest charged by a lender to a borrower if installments are not paid according to the loan terms.
New Mexico shared the world’s most active oilfield the Permian Basin with Texas, producing about half of the U.S.’ crude oil at about 6.1 million barrels of oil per day (bopd), records show.