There is a newer version of the New Mexico Statutes
2011 New Mexico Statutes
Chapter 7: Taxation
Article 3A: Oil and Gas Proceeds Withholding Tax, 7-3A-1 through 7-3A-9
Section 7-3A-4: Deductions considered taxes.
NM Stat § 7-3A-4 (1996 through 1st Sess 50th Legis) What's This?
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 a 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 net income.
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