Form Rpd-41283 - Annual Summary Of Oil And Gas Proceeds Withholding Tax Page 2
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2State of New Mexico - Taxation and Revenue Department
RPD-41283
Rev. 12/20/2011
ANNUAL SUMMARY OF OIL AND GAS PROCEEDS WITHHOLDING TAX
INSTRUCTIONS
FILING INSTRUCTIONS: Complete all information requested
Statement of Withholding of Oil and Gas Proceeds, and must
on Form RPD-41283, Annual Summary of Oil and Gas Pro-
be submitted in one of the following ways:
ceeds Withholding Tax. Retain this form in your files.* Do not
1. Submit 1099-Misc forms by electronic transmission
submit this form to the Department or use this form to report
through the Combined Federal/State Filing Program with
or pay oil and gas proceeds withholding tax. If additional tax is
IRS approval (State records must be included and must
due, you must file an original or amended Form RPD-41284,
bear codes for forwarding to New Mexico), or
Quarterly Oil and Gas Proceeds Withholding Tax Return, for
2. Submit the paper forms to New Mexico Taxation and
the quarter(s) in which the tax was not reported or incorrectly
Revenue Department, P.O. Box 5779, Santa Fe, New
reported. Submit the amended report(s) to the address on Form
Mexico 87502-5779.
RPD-41284, with a check or money order for the tax due. For
The electronic file to be submitted to the Department must be
overpayments of withholding tax, amend the return(s) for the
in a specific file data format and record layout and submitted
period(s) in which the tax was incorrectly reported and attach
using an input source that is being developed for implementa-
a completed Form RPD-41071, Application for Tax Refund.
tion on or after January 1, 2012. This electronic file is different
than the electronic web applications developed for submitting
*For tax years beginning January 1, 2011, Form RPD-41283,
Form RPD-41360. It must contain the name, address and
Annual Summary of Oil and Gas Proceeds Withholding Tax,
federal identification number (FEIN or SSN) for all remittees
is no longer required to be submitted to the Department.
that were distributed oil and gas proceeds during the report
year, but for whom no oil and gas proceeds withholding tax
Annual Statements of Withholding: Remitters are required
was withheld. Remittees that had tax withheld and a 1099-Misc
to provide sufficient information to enable the remittees to
form or Form RPD-41285 was submitted to the Department
comply with the provisions of the Income Tax Act and the
as described in the previous paragraph are not required to be
Corporate Income and Franchise Tax Act, with respect to the
included in this electronic file. Also included will be the FEIN
remittee’s share of the gross oil and gas proceeds. A remitter
of the sender and the report year. Information regarding the
may use federal Form 1099-MISC, if required to be filed by
development of the file format specifications and process for
the IRS, a pro-forma 1099-MISC, or Form RPD-41285, An-
submission will be posted to the Department’s web site begin-
nual Statement of Withholding of Oil and Gas Proceeds, to
ning in December of 2011. The due date of the electronic file
report to the remittees the gross oil and gas proceeds paid
is the same due date as the due date for Form RPD-41360.
and New Mexico tax withheld. These forms must be provided
See “When to File Form RPD-41360”. The due date for the
to the remittee by February 15th of the year following the
2011 electronic file is also extended to October 15, 2012.
year for which the statement is made. For tax years 2011
and after, copies of these forms do not need to be submitted
Remitters should be aware that the Department is required
to the Department provided Form RPD-41360 is filed. The
to compare the tax information received from the remitters
information is provided when you file the annual Form RPD-
with the records of the remittees and if the Department deter-
41360. See also “Electronic Filing Requirements in Lieu of
mines that the remittee is not paying the proper tax on oil and
Filing Form RPD-41360”.
gas proceeds, the Department may request that the remitter
show reasonable cause for not withholding (See “Exceptions
Remitters of oil and gas rents and royalties from wells lo-
to the Requirement to Withhold” in these instructions). If the
cated in New Mexico who are required to file a federal Form
Department determines that a non-resident remittee is not
1099-MISC, Miscellaneous Income Information Return, must
paying New Mexico income tax on the oil and gas proceeds,
file the 1099-MISC, segregating the New Mexico rents and
the Department will notify the remitter that the remitter must
royalties paid from the rents and royalties paid everywhere
withhold from future oil and gas proceeds paid to the remt-
and report only those rents and royalties from New Mexico
tee. Upon notification, the remitter will be held responsible for
properties to the remittee.
future tax required to be withheld from the remittee.
When to File Form RPD-41360: For tax year 2011, Form
Electronic Filing Requirements in Lieu of Filing Form
RPD-41360 is due on or before October 15, 2012. An exten-
RPD-41360: Remitters do not need to submit Form RPD-
sion of time to file has been granted for tax year 2011 only.
41360, 2011 Annual Withholding of Oil and Gas Proceeds
The 2011 extension is granted to allow remitters time to
Detail Report, if:
transition to the new reporting requirements. Generally, Form
1. the remitter submits income and withholding tax information
RPD-41360, is due on or before the last day of February of
to the Department for remittees as described below, and
the year following the close of the calendar year in which the
2. provides the Department with an electronic file in the
oil and gas proceeds were paid. If the due date of the return
manner prescribed by the Department, reporting the
falls on a Saturday, Sunday or state or national legal holiday,
remittees to whom oil and gas proceeds was paid but no
the return is timely if the postmark bears the date of the next
tax was withheld.
business day. If no payment of oil and gas proceeds was
The income and withholding tax information must be submitted
made for a calendar year, no return is due.
on either Form 1099-Misc or state Form RPD-41285, Annual
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