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  1. All NM Taxes
  2. Frequently Asked Questions
  3. Is a pass-through entity that has had income withheld from its oil and gas proceeds required to deduct and withhold from similar income distributed to a nonresident owner’s share of net income?

Is a pass-through entity that has had income withheld from its oil and gas proceeds required to deduct and withhold from similar income distributed to a nonresident owner’s share of net income?

A pass-through entity is not required to deduct and withhold oil and gas proceeds from a nonresident owner’s share of net income under the Oil and Gas Proceeds Withholding Tax Act.