New Mexico § 7-31-9 Operator or purchaser to withhold interest owner's tax;

New Mexico Statutes

§ 7-31-9 — Operator or purchaser to withhold interest owner's tax;

New Mexico § 7-31-9

Ch. 7Taxation

Art. 31Oil and Gas Emergency School Tax

This text of New Mexico § 7-31-9 (Operator or purchaser to withhold interest owner's tax;) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

N.M. Stat. Ann. § 7-31-9 (2026).

Text

department may require withholding of tax; tax withheld to be remitted to the state; operator or purchaser to be reimbursed.

A.Any operator making a monetary payment to an interest owner for the interest owner's portion of the value of products from a production unit shall withhold from such payment the amount of tax due from any interest owner.

B.Any purchaser who, by express or implied agreement with the operator, makes a monetary payment to an interest owner for the interest owner's portion of the value of products from a production unit shall withhold from such payment the amount of tax due from the interest owner.

C.The department may require any purchaser making a monetary payment to an interest owner for the interest owner's portion of the value of products from a production unit

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department may require withholding of tax; tax withheld to be remitted to the state; operator or purchaser to be reimbursed. A. Any operator making a monetary payment to an interest owner for the interest owner's portion of the value of products from a production unit shall withhold from such payment the amount of tax due from any interest owner. B. Any purchaser who, by express or implied agreement with the operator, makes a monetary payment to an interest owner for the interest owner's portion of the value of products from a production unit shall withhold from such payment the amount of tax due from the interest owner. C. The department may require any purchaser making a monetary payment to an interest owner for the interest owner's portion of the value of products from a production unit to withhold from such payment the amount of tax due from the interest owner. D. Any operator or purchaser who pays any tax due from an interest owner shall be entitled to reimbursement from the interest owner for the tax so paid and may take credit for such amount from any monetary payment to the interest owner for the value of products.