Form Rpd-41284 - Quarterly Oil And Gas Proceeds Withholding Tax Return Page 5
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5STATE OF NEW MEXICO - TAXATION AND REVENUE DEPARTMENT
RPD-41284
Rev. 09/04/2012
Quarterly Oil and Gas Proceeds Withholding Tax Return Instructions
Page 4 of 4
source. If the remitter cannot file using one of these electronic
gas proceeds. A remitter may use federal Form 1099-Misc,
methods, the remitter must file this paper Form RPD-41360,
if required to be filed by the IRS, a pro-forma 1099-Misc, or
Form RPD-41285, Annual Statement of Withholding of Oil
Annual Withholding of Oil and Gas Proceeds Detail Report.
See the instructions for Form RPD-41360 for more informa-
and Gas Proceeds, to report to the remittees the gross oil
tion on the File Data Format.
and gas proceeds paid and New Mexico tax withheld. These
forms must be provided to the remittee by February 15th of
For tax years beginning in 2012 and thereafter, remitters
the year following the year for which the statement is made.
who have more than 50 New Mexico payees are required to
electronically file Forms 1099-Misc, pro forma 1099-Misc or
NOTE: For tax years beginning on or after January 1, 2011,
New Mexico Form RPD-41285, Annual Statement of With-
Form RPD-41283, Annual Summary of Oil and Gas Proceeds
holding of Oil and Gas Proceeds, and provide the Depart-
Withholding Tax, is no longer required.
ment with an electronic report of the non-resident remittees
A remitter who is also a pass-through entity (PTE), may also
who have entered into an agreement with the remitter to pay
need to file forms for PTE withholding. As a PTE, similar
New Mexico tax on the oil and gas proceeds. The new form
withholding requirements are imposed on the allocated net
is RPD-41374, Annual Report of Non-Resident Remittees
income of the pass-through entity. If you earn net income
Holding an Agreement to Pay Tax on Oil and Gas Proceeds.
for the owners, members, partners or beneficiaries of your
If the remitter has 50 or fewer New Mexico payees, remit-
organization, then pass-through entity net income and with-
ters may choose to mail paper Forms 1099-Misc, pro forma
holding tax is reported on Forms RPD-41355, Quarterly
1099-Misc, New Mexico Forms RPD-41285 and RPD-41374
Pass-Through Entity Withholding Tax Return, RPD-41359,
to the Department. If the remitter has more than 50 New
Annual Statement of Pass-Through Entity Withholding, and
Mexico payees, these forms must be electronically filed
RPD-41367, Annual Withholding of Net Income of a Pass-
unless the taxpayer obtains prior approval from the Depart-
Through Entity Detail Report.
ment by filing Form RPD-41350, E-File Exception Request
This form and Forms RPD-41374, Annual Report of Non-
Form. The request must be received by the Department at
least 30 days before the taxpayer's electronic report is due.
Resident Remittees Holding an Agreement to Pay Tax on
Oil and Gas Proceeds, and RPD-41285, Annual Statement
Remitters are also required to provide sufficient information
of Withholding of Oil and Gas Proceeds, described in this
to enable the remittees to comply with the provisions of the
document, are used only when oil and gas proceeds are
Income Tax Act and the Corporate Income and Franchise Tax
paid to a remittee.
Act, with respect to the remittee’s share of the gross oil and
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