§ 7-3A-1 Short title
§ 7-3A-2 Definitions
§ 7-3A-3 Withholding from oil and gas proceeds and net income
§ 7-3A-4 Deductions considered taxes
§ 7-3A-5 Remitters and pass-through entities liable for amounts deducted and withheld; exceptions
§ 7-3A-6 Date payment due; form
§ 7-3A-7 Statements of withholding
§ 7-3A-8 Withheld amounts credited against income tax
§ 7-3A-9 Interpretation of act; administration and enforcement of act;
§ 7-3A-10 Election of entity-level tax; credit
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Terms Used In New Mexico Statutes > Chapter 7 > Article 3A - Oil and Gas Proceeds and Pass-Through Entity

  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.