2006 New Mexico Statutes - Section 7-3A-7 — Statements of withholding.

7-3A-7. Statements of withholding.

A.     Every remitter shall file an annual statement of withholding for each remittee. This statement shall be in a form prescribed by the department and shall be filed with the department on or before the last day of February of the year following that for which the statement is made. It shall include the total oil and gas proceeds paid to the remittee and the total amount of tax withheld for the calendar year. The department shall compile each year the annual statements received from the remitters and compare the compilation with the records of individuals, estates or trusts filing income tax returns.   

B.     A copy of the annual statement of withholding shall be furnished to the remittee by the remitter on or before February 15 of the year following the year for which the statement is made.