Form Rpd-41374 - 2013 Annual Report Of Non-Resident Remittees Holding An Agreement To Pay Tax On Oil And Gas Proceeds Page 3
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5RPD-41374 (2013)
New Mexico Taxation and Revenue Department
Rev. 5/3/2013
Annual Report of Non-Resident Remittees
Holding an Agreement to Pay Tax on Oil and Gas Proceeds
Instructions - Page 1 of 3
Who Must File: Remitters of oil and gas proceeds from oil
Proceeds Withholding Tax, is no longer required.
and gas production from a well located in New Mexico who are
A remitter, who is also a pass-through entity (PTE), may also
subject to withholding tax from payments according to the Oil
need to file Form RPD-41359, Annual Statement of Pass-
and Gas Proceeds and Pass-Through Entity Withholding Tax
Through Entity Withholding, and Form RPD-41367, Annual
Act (Sections 7-3A-1 through 7-3A-9 NMSA 1978) are required
to submit information returns to the Department annually. For
Withholding of Net Income of a Pass-Through Entity Detail
Report. As a PTE, similar withholding requirements are im-
oil and gas proceeds paid on or after January 1, 2012, Form
posed on the allocable net income of the pass-through entity.
RPD-41374, Annual Report of Non-Resident Remittees Hold-
If you earn net income for the owners, members, partners or
ing An Agreement to Pay Tax on Oil and Gas Proceeds, is
beneficiaries of your organization, then pass-through entity net
used to report the distribution of oil and gas proceeds to each
income and withholding tax is reported on these forms. Forms
non-resident remittee who entered into an agreement to pay
RPD-41374, Annual Report of Non-Resident Remittees Hold-
the tax on oil and gas proceeds pursuant to the Oil and Gas
ing an Agreement to Pay Tax on Oil and Gas Proceeds, and
Proceeds and Pass-Through Entity Withholding Tax Act. For
RPD-41285, Annual Statement of Withholding of Oil and Gas
the 2011 filing requirements, see Form RPD-41360.
Proceeds, described in the remainder of this document, are
Remitters are also required to file electronically, Forms 1099-
used only when oil and gas proceeds are paid to a remittee.
Misc, or for those entities that do not receive an IRS form
When to File: Form(s) RPD-41374 and Forms 1099-Misc, pro
1099-Misc, a pro forma 1099-Misc or New Mexico Form
forma 1099-Misc or Form RPD-41285 are due on or before the
RPD-41285, Annual Statement of Withholding of Oil and Gas
last day of February of the year following the close of the cal-
Proceeds, to the Department for each remittee from whom oil
endar year in which the oil and gas proceeds were paid. If the
and gas proceeds from a New Mexico well was paid and report
due date of the return falls on a Saturday, Sunday or state or
the New Mexico tax withheld. If the oil and gas proceeds paid
national legal holiday, the return is timely if the postmark bears
on Form 1099-Misc is a combination of oil and gas proceeds
the date of the next business day. If no payment of oil and gas
from oil and gas production in multiple states, separately state
proceeds was made for a calendar year, no filings are required.
the oil and gas proceeds derived from New Mexico oil and
gas production and the amount of New Mexico tax withheld.
Penalty for Failure to File. A $5 penalty will be assessed for
failing to file Form RPD-41374 timely. You may pay the penalty
File Electronically: If the remitter has more than 50 payees
through the Department’s website at https://efile.state.nm.us,
who receive New Mexico oil and gas proceeds to report,
or submit your payment by attaching a check or money order
remitters are required to electronically file Form RPD-41374
to your paper return.
through the Department’s website, and Forms 1099-Misc, pro
forma 1099-Misc or Form RPD-41285 electronically, either
Where to File: File online using the Department’s website at
through the Combined Federal/State Filing Program or through
https://efile.state.nm.us. First-time e-filers will need to create a
the Department’s website. See “Where to File” later in these
login name and password. For assistance call (505) 827-0825.
instructions. If the remitter has more than 50 New Mexico
payees, and is unable to file electronically because a hardship
If granted an exemption to electronically file Form RPD-41374,
or you have 50 or fewer New Mexico payees and choose to file
exists and there is no reasonable access to the Internet in the
this form in paper format, submit this completed form to: New
taxpayer’s community, the remitter may request Department
Mexico Taxation and Revenue Department, P.O. Box 25127,
approval to file by paper. The remitter may request approval
Santa Fe, NM 87504-5127.
by filing Form RPD-41350, E-File Exception Request Form.
The request must be received by the Department at least 30
The income and withholding tax information must be submitted
days before the taxpayer’s electronic report is due.
on Forms 1099-Misc, pro forma 1099-Misc or New Mexico Form
RPD-41285, Annual Statement of Withholding of Oil and Gas
Other Reporting Requirements: Remitters are also required to
Proceeds, and must be submitted in one of the following ways:
provide sufficient information to enable the remittees to comply
with the provisions of the Income Tax Act and the Corporate
1. Submit 1099-Misc forms by electronic transmission
Income and Franchise Tax Act, with respect to the remittee’s
through the Combined Federal/State Filing Program with
share of the gross oil and gas proceeds. A remitter may use
IRS approval (State records must be included and must
federal Form 1099-Misc, if required to be filed by the IRS, a
bear codes for forwarding to New Mexico), or
pro forma 1099-Misc, or Form RPD-41285, Annual Statement
2. Submit forms 1099-Misc, pro forma 1099-Misc or New
of Withholding of Oil and Gas Proceeds, to report to the re-
Mexico Form RPD-41285 electronically* using the Depart-
mittees the gross oil and gas proceeds paid and New Mexico
ment’s website, or
tax withheld. These forms must be provided to the remittee
3. If 50 or fewer payees, you may submit the paper forms to
by February 15th of the year following the year for which the
New Mexico Taxation and Revenue Department, P.O. Box
statement is made. NOTE: For tax years beginning January
5779, Santa Fe, New Mexico 87502-5779.
1, 2011, Form RPD-41283, Annual Summary of Oil and Gas
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