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RPD-41367 12

New Mexico Taxation and Revenue Department

Rev. 12/04/2012

2012 Annual Withholding of Net Income From a Pass-Through Entity Detail Report

Instructions

Page 2 of 4

pursuant to Section 7-3A-3(G) NMSA 1978, the agreement

tax year, column 4 from all pages must equal the amount

must be revoked and the PTE will be held responsible for

reported on line 1 of this form. When a PTE has tax withheld

future tax required to be withheld from the owner.

from the oil and gas proceeds received or the allocable net

income of another PTE, the PTE may pass the tax withheld to

INSTRUCTIONS FOR COMPLETING THE FORM

its owners by issuing the owner a 1099-Misc, pro forma 1099-

Enter the name of the PTE, the federal identification number

Misc or New Mexico Form RPD- 41359, Annual Statement

(FEIN) and the total New Mexico net income for the calendar

of Pass-Through Entity Withholding. If the owner has both

year of this return. If the PTE is a trust or an estate, enter

withholding tax passed from the PTE and tax withheld and

the total New Mexico net income distributed that is taxable

paid by the PTE, the PTE may combine the withholding tax

to the recipient.

on the information reports filed. The withholding rate is 4.9%.

Mark the box indicating the type of New Mexico income tax

Column 5. Indicate if the PTE has a valid signed Form RPD-

return that the pass-through entity will file for the tax year.

41353, Owner’s or Remittee’s Agreement to Pay Withholding

If no New Mexico income tax return is required to be filed,

on Behalf of a Pass-through Entity or Remitter, on file by

check the “Other” box and indicate the reason no New Mexico

marking the YES box. The agreement must not be revoked.

income tax return is required. For example, a grantor trust that

Form RPD-41353 is required documentation showing that

is not required to file a New Mexico FID-1 return, marks the

the PTE and owner have entered into an agreement that the

“Other” box, and enters “Grantor trust” on the line provided

non-resident owner agrees to pay the New Mexico tax on the

for an explanation.

owner’s share of the allocable net income of the PTE.

If the PTE is filing for a tax year that is not a full calendar year,

Complete line 2 for each page, entering the sum of column

enter the first day and the last day of the tax year. The tax

4 for the page. Also complete line 3 on the first page show-

year for the New Mexico return must be the same as the tax

ing the total tax withheld by the PTE, reported in column 4,

year for the federal return. Enter the due date of the PTE’s

from all pages.

federal income tax return. If no federal income tax return

for the tax year is due, enter 105 days after the end of the

Amending: Check the amended indicator box if you are

entity’s tax year. If an extension was granted, enter also the

amending a previously filed Form RPD-41367, Annual With-

extension due date.

holding of Net Income From a Pass-Through Entity Detail

Report. If requesting a refund due to an overpayment of tax

Column 1. Enter the name and address of each owner of

withheld, you must also attach Form RPD-41373, Applica-

the PTE. If an individual, enter the first, middle initial and last

tion for Refund of Tax Withheld From Pass-through Entities.

name of the owner. Mark the box if the address of an owner

Please note that the Department must have both the PTE’s

is outside the U.S.. A trust or estate enters the name and

income tax return and Form RPD-41367 filed before the

address of each recipient of a taxable distribution of New

refund can be verified.

Mexico net income.

Line 4. Enter the amount of Withholding tax passed to owners.

Column 2. Enter the owner’s federal identification number

If a PTE has had tax withheld from the oil and gas proceeds

and mark the box indicating that the number is a federal

received or the allocable net income of another PTE, the PTE

employer identification number (FEIN) or a social security

may pass the tax withheld to its owners by issuing the owner

number (SSN).

a 1099-Misc, pro forma 1099-Misc or New Mexico Form RPD-

41359, Annual Statement of Pass-Through Entity Withhold-

Column 3. Enter the owner’s share of the allocable net

ing. Do not include on this line, any tax that was withheld

income of the PTE. If the PTE is a trust or estate, enter the

and paid by the PTE who files this report. The withholding

recipient’s taxable distribution of New Mexico net income.

tax passed to the owners must be subtracted from the total

The total of column 3 for all pages must equal Line 1, Total

owner’s share of withholding tax to determine the amount of

tax due on this report.

New Mexico net income.

Column 4. Enter the owner’s share of tax withheld for the

About Tax Credits: A PTE may not report tax credits on

tax year. The owner’s share includeds both the withholding

Form PTE or on this Form RPD-41367, Annual Withholding

tax that the PTE paid using this form (Form RPD-41367)

of Net Income From a Pass-Through Entity Detail Report.

and amounts paid on Form RPD-41355, Pass-through Entity

The PTE is required to pass tax credits, that they have been

Withholding Tax Return Payment, web application on our web

approved for, to the owners. Each owner must apply the credit

site . The total of the owner’s share of tax withheld for the

against its income tax liability. A PTE that passes tax credit

Form Rpd-41367 12 - Annual Withholding Of Net Income From A Pass-Through Entity Detail Report - New Mexico Taxation And Revenue Department Page 4

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