Statutes > 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.

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 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.