Form Rpd-41374 - 2013 Annual Report Of Non-Resident Remittees Holding An Agreement To Pay Tax On Oil And Gas Proceeds Page 4
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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 2 of 3
*The electronic file to be submitted to the Department is in a
for the page. Also complete line 3 on the first page showing
specific file data format and record layout that is very similar to
the total tax withheld and paid by the remitter to the Depart-
the Combined Federal/State Filing Program. To obtain specific
ment on Form RPD-41284, from all pages.
information regarding the electronic file, log in to the web file
page on the Department’s website at https://efile.state.nm.us.
Sign and date the report. The remitter or the remitter’s
authorized representative must sign and date the report.
Remitters should be aware that the Department is required
Also enter the contact phone number and e-mail address.
to compare the tax information received from the remitters
with the records of the remittees and if the Department deter-
IMPORTANT DEFINITIONS:
mines that the remittee is not paying the proper tax on oil and
“Remittee” means a person who is entitled to payment of oil
gas proceeds, the Department may request that the remitter
and gas proceeds by a remitter.
show reasonable cause for not withholding (see “Exceptions
“Remitter” means a person who pays oil and gas proceeds
to the Requirement to Withhold” in these instructions). If the
to any remittee.
Department determines that a non-resident remittee is not
“Oil and gas” means crude oil, natural gas, liquid hydrocarbons
paying New Mexico income tax on the oil and gas proceeds,
or any combination thereof, or carbon dioxide.
the Department will notify the remitter that the remitter must
For definitions of “Oil and gas proceeds” see “What are gross
withhold from future oil and gas proceeds paid to the remittee.
oil and gas proceeds?” below.
If the remitter did not withhold because the remitter and remit-
tee entered into an agreement pursuant to Section 7-3A-3(G)
What are gross oil and gas proceeds?
NMSA 1978, the agreement must be revoked and the remitter
“Oil and gas proceeds” means any amount derived from oil
will be held responsible for future tax required to be withheld
and gas production from any well located in New Mexico
from the remittee.
and payable as royalty interest, overriding royalty interest,
production payment interest, working interest or any other
INSTRUCTIONS FOR COMPLETING THE FORM
obligation expressed as a right to a specified interest in the
Enter the name and address of the remitter, the federal identifi-
cash proceeds received from the sale of oil and gas production
cation number and mark the box indicating whether the number
or in the cash value of that production. Oil and gas proceeds
is a federal employer identification number (FEIN) or a social
excludes “net profits interest” and other types of interest the
security number (SSN). Also enter the total New Mexico gross
extent of which cannot be determined with reference to a
oil and gas proceeds distributed by the remitter in the calendar
specified share of the oil and gas production and excludes
year of this return.
any amounts deducted by the remitter from payments to in-
terest owners or paid by interest owners to the remitter that
Column 1. Enter the name and address of all recipients (re-
are for expenses related to the production from the well or
mittees) of oil and gas proceeds made by this payor (remitter)
cessation of production from the well for which the interest
with whom a valid signed Form RPD-41353, Owner’s or Re-
owner is liable.
mittee’s Agreement to Pay Withholding on Behalf of a Pass-
through Entity or Remitter, is on file. The agreement must
“Gross oil and gas proceeds” means the amount of oil and
not be revoked. Form RPD-41353 is required documentation
gas proceeds subject to oil and gas proceeds withholding tax
showing that the remitter and remittee have entered into an
and includes amounts deducted by the remitter for expenses
agreement that the non-resident remittee agrees to pay the
and severance taxes, but does not include amounts deducted
New Mexico tax on the oil and gas proceeds paid to the re-
for expenses or taxes prior to receipt by the remitter. If a tax-
mittee. If an individual, enter the first, middle initial and last
payer receives a Form 1099-Misc for its oil and gas proceeds,
name of the remittee. Mark the box if the address is outside
the gross amount is the amount reported on federal Form
the U.S..
1099-Misc in box 2--royalties, and in box 7--non-employee
Column 2. Enter the remittee’s federal identification number
compensation.
and mark the box indicating whether the number is a federal
employer identification number (FEIN) or a social security
The following payments are not subject to the oil and gas
number (SSN).
proceeds withholding tax:
•
“net profits interest” and other types of interest which
Column 3. Enter the remittee’s share of the total gross New
cannot be linked to a specified share of the oil and gas
Mexico oil and gas proceeds paid. The total of column 3 on all
production.
pages must equal Line 1, Total New Mexico gross oil and gas
•
advance royalty payments, bonus payments, minimum
proceeds distributed by the remitter.
royalty payments, shut-in payments and rental pay-
ments, provided that the payments are not offset against
Column 4. Enter the tax withheld from the remittee’s oil and
a share of future production.
gas proceeds.
Complete line 2 for each page, entering the sum of column 4
The well must be located in New Mexico, but if the production
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