2015 New Mexico Statutes
Chapter 7 - Taxation
Section 3A Oil and Gas Proceeds and Pass-Through Entity Withholding Tax
Section 7-3A-4 Deductions considered taxes.
7-3A-4. Deductions considered taxes.
Amounts deducted under the provisions of the Oil and Gas Proceeds and Pass-Through Entity Withholding Tax Act are a collected tax. A remittee who receives payment of oil and gas proceeds or an owner with an allocable share of net income does not have a right of action against the remitter or pass-through entity for the amount deducted and withheld from the oil and gas proceeds or an allocable share of net income.
History: 1978 Comp., 7-3A-4, enacted by Laws 2003, ch. 86, 7; 2010, ch. 53, 11; 2012, ch. 40, 3.
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