Section 7-3A-4 - Deductions considered taxes. - New Mexico Statutes

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.