The effective date of legislation requiring withholding from oil and gas proceeds from wells located in New Mexico is October 1, 2003. Withholding is required from any payment made after the effective date regardless of sales/production date.
The effective date of legislation requiring withholding from oil and gas proceeds from wells located in New Mexico is October 1, 2003. Withholding is required from any payment made after the effective date regardless of sales/production date.