Nm rpd 41285 2025

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The document RPD-41285 is an annual statement form from the New Mexico Taxation and Revenue Department for reporting the withholding of oil and gas proceeds. It outlines the requirements for remitters (payers) to submit information regarding gross oil and gas proceeds and state tax withheld to both the department and recipients (remittees). The form must be attached to the remittee's New Mexico state income tax return to claim withheld taxes. Instructions are provided for both remitters and remittees, including filing deadlines, identification number requirements, and electronic filing options.

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Click ‘Get Form’ to open the nm rpd 41285 in the editor.
Begin by entering the tax year at the top of the form. This is essential for accurate record-keeping.
Fill in your federal identification number, ensuring you select whether it’s a FEIN or SSN by marking the appropriate box.
Provide your name, address, and phone number. If your address is outside the U.S., mark the designated box.
Next, enter the remittee’s information including their name and address. Again, mark if their address is outside the U.S.
Input both the remittee’s federal identification number and their gross oil and gas proceeds from New Mexico wells.
Finally, indicate the amount of New Mexico state tax withheld before saving or sending your completed form.

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What is RPD 41359?

Owners attach RPD-41359 to claim a New Mexico withhold- ing credit, credit for entity-level tax, or credit for composite income tax on their personal or corporate income tax returns. Only the RPD-41359 may be used to support the credit for entity-level tax or composite income tax.

What is withholding tax everfi?

taxes. money paid to the Federal, State, and Local governments for schools, parks, roads, emergency services, etc. withholding (tax withheld) tax payments taken out of an employees pay before he or she receives it.

What is the number for NM gross receipts tax?

If you need assistance, call 1-866-809-2335. Once youre online filing your return, you can also pay online. For no additional charge, you may pay using an electronic check that authorizes the Department to debit your checking account in the amount and on the date you specify.

What is withholding tax in Canada?

Withholding tax deducts the tax you are liable to pay at the source of income. It gives the CRA tax revenue throughout the year, as the tax is collected when the payment is made. This cycle has three parties the payor (John), the payee (Natasha), and the CRA.

What is the meaning of withhold tax?

Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the income rather than by the recipient of the income. The tax is thus withheld or deducted from the income due to the recipient.

What is the meaning of withholding payment?

The verb withhold means to deduct from a payment and hold back. Your job will withhold money from your paycheck for things like taxes. You may also choose to withhold money from your check for healthcare, retirement, and numerous other voluntary accounts.

What is NM state withholding tax?

Employers must withhold a part of the employees wages for payment of income tax. New Mexico bases its withholding tax on an estimate of an employees State income tax liability. The State credits taxes withheld against the employees actual income tax liability on the New Mexico personal income tax return.

What is withholding tax Quizlet?

withholding tax. Amount of income taxes that an employer is required to withhold from an employees salary when the salary is paid. The amount withheld is a credit against the amount of income taxes the employee must pay on his income earned for the taxable year. Also called retention tax. tax.

Nm rpd 41285 2025

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