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All Posts > Oil and Gas Proceeds Witholding Tax

The oil and gas proceeds withholding tax is a withholding tax on the amount paid to nonresidents of New Mexico... Read More

Oil and gas proceeds are amounts derived from production and payable to recipients (remittees) as royalty inte... Read More


The remitter (the person, whether an individual or a business) who makes an oil and gas proceeds payment to a ... Read More


A qualified remittee is a person who receives oil and gas proceeds from New Mexico wells and who is not a resi... Read More


Withhold at the top personal income tax bracket rate, which is 4.90% of payments made after January 1, 2008. P... Read More


Acceptable proof of redistribution of oil and gas proceeds includes – but is not limited to – writ... Read More


The United States of America, the State of New Mexico and any agencies, instrumentalities or political subdivi... Read More


For tax years beginning January 1, 2011, Form RPD- 41283, Annual Summary of Oil and Gas Proceeds Withholding T... Read More


Recipients may claim the oil and gas proceeds withholding tax paid against personal or corporate income tax du... Read More


The effective date of legislation requiring withholding from oil and gas proceeds from wells located in New Me... Read More


If any single payment is more than $10, the remitter must withhold. The remitter is not prohibited, however, f... Read More


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