Form RPD-41356 Pass-Through Entity Owner's Quarterly Tax Payment

Documentation is on file showing that the owner is a federally recognized Indian nation tribe or pueblo or any agency instrumentality or political subdivision thereof; Documentation is on file showing that the owner is granted exemption from the federal income tax by the United States Commissioner of Internal Revenue as an organization described in Section 501(c)(3) of the In ternal Revenue Code including a copy of the owner s federal Form W 9 or a copy of the determination letter from the IRS; Documentation is on file showing that the owner is the United States New Mexico or any agency instrumental ity or political subdivision of either; Documentation showing the PTE s inability to make pay ment of withholding from net income for the quarter due to non availability of cash or due to contracts and other binding written covenants with unrelated third parties unless cash payments have been made to any owner during the quarter in which case the PTE is liable for payment of the withholding amount due up to the extent of the cash payment made during the quarter; filing and paying the required tax due on this Form RPD If an individual a signed Form RPD 41354 Decla ration of Principal Place of Business or Residence in New Mexico is on file that the individual is a resi dent of New Mexico and declaring the physical loca tion of the individual's abode in New Mexico PLEASE CUT AND RETURN BOTTOM PORTION WITH YOUR PAYMENT The owner maintains its place of business or residence in New Mexico: timely filing its annual New Mexico personal income tax (SSN) Check the box to indicate whether the federal identi 25127 Santa Fe NM 87504 5127 Make the check or money 41356 or Additionally certain adjustments to the amount of tax with held by the PTE are allowed Adjustments to the amount withheld: also satisfy the terms of the agreement by filing its New amending a previously filed RPD 41356 Pass Through Entity Owner s Quarterly Tax Payment If requesting a refund due to Amending: Check the amended indicator box if you are Amount of required tax to be paid amount on line 1 when due Calculate the penalty by multiply ing the unpaid amount on line 1 by 2% then by the number of months or partial months for which the return or payment an overpayment of tax withheld complete Form RPD 41071 An owner of a PTE who has entered into an agreement with the PTE that the owner pay the amount that the PTE would have been required to withhold and remit to the Department on behalf of the owner pursuant to the Oil and Gas Proceeds and Pass Through Entity Withholding Tax Act submits the withholding tax due on Form RPD 41356 Pass Through Entity Owner's Quarterly Tax Payment on the due date of this return The PTE must have a completed Form RPD 41353 Owner's or Remittee's Agreement to Pay Withholding on Behalf of a Pass Through Entity or Remitter on file at the time it files its and on the due date of this return or by another form of annual return for the tax year to which the agreement pertains Application for Tax Refund and submit it with the amended return At the option of a PTE a PTE may agree with the owner that the owner pay the amount that the PTE would have been required to withhold and remit to the Department on behalf of the owner pursuant to the Oil and Gas Proceeds and Pass Through Entity Withholding Tax Act The pay ments by the owner may be remitted on Form RPD 41356 Pass Through Entity Owner's Quarterly Tax Payment Beginning (mm dd yy) Ending (mm dd yy) Check if amended City state ZIP: Check if outside the U S deferred income reported in the year ended prior to the Department s notification Exceptions to the requirement to withhold: fication number entered is a FEIN or SSN File and pay the tax due online using the Department s web site at https://efile state nm us An owner filing this form for the first time who has not previously filed any New Mexico File on line at www tax newmexico gov For assistance call (505) 827 0825 For example say a taxpayer owes $5 000 for the 1st quarter of 2011 due April 25th 2011 The daily interest rate for the 2nd quarter of 2011 is 0 010958904% (annual rate 3%) If the tax due date is April 25th 2011 and he is paying on April 30th 2011 the payment is 5 days late Using the formula $5 000 x 0 010958904 x 5 = 2 74 For tax years beginning January 1 2011 a PTE must remit forms or instructions please visit www tax newmexico gov from the discharge of indebtedness in conjunction with has failed to remit the required payment the agreement is no longer acceptable by the Department as reasonable cause for failure to withhold The PTE is not responsible for withholding on the net income earned in quarters that identification number (FEIN) or your social security number If a corporation a signed Form RPD 41354 Decla ration of Principal Place of Business or Residence in New Mexico is on file that the corporation s princi pal place of business is in New Mexico or If a corporation incorporated in New Mexico the corporation's incorporation papers are on file with sufficient portions of those papers to demonstrate If a PTE has deducted and withheld an amount pursuant to the Oil and Gas Proceeds and Pass Through Entity Withholding Tax Act from the net income of an owner that is also a PTE the payee PTE may take credit for that amount in determining the amount the payee PTE must withhold and deduct If the amount to be withheld from an owner's share of net income in any calendar quarter is less than $30 00 no If you cannot electronically file you may submit this form to: Important: Effective January 1 2011 an owner may no incorporation in New Mexico or information from the Public Regulation Commission web site indicat ing that the corporation is a New Mexico corpora tion in good standing and its address or INSTRUCTIONS FOR COMPLETING THIS FORM: Complete all information requested Round the tax amount in line 1 to Interest is late not to exceed 20% of the tax due The penalty may not be less than $5 00 liability due on this return by: Line 1: Enter the amount of tax to be withheld during the quarterly report period The PTE should provide you with the amount of withholding tax to be paid Line 2: Add penalty if the entity fails to file timely or to pay the Line 3: Interest accrues daily on the unpaid principal of tax due and can change on a quarterly basis The effective an nual and daily interest rates are posted on the Department's web page at www tax newmexico gov or can be obtained by contacting the Department Line 4: Add lines 1 2 and 3 to compute the total due Enter the sum on line 4 longer use Form PTE TA New Mexico Non resident Owner Income Tax Agreement to avoid withholding from the net income of a PTE ment Indicate PTW O and enter the owner's FEIN or SSN Mexico income tax return and paying the tax due The PTE must have a completed Form RPD 41353 Owner's or Remittee's Agreement to Pay Withholding On Behalf of a Pass Through Entity or Remitter on file at the time it files its return for the tax year to which the agreement pertains If the Department notifies the PTE that the owner New Mexico Taxation and Revenue Department P O Box number (FEIN) of the PTE for whom a withholding tax pay ment is made for the owner's share of the PTE's net income of the first and last day of the calendar quarter for which you are reporting For example if filing for the first quarter of 2011 enter 01 01 11 to 03 31 11 in the space provided on the payment PTW O payments should not be sent with any other payments to the Department or corporate income and franchise tax return and paying the amount of tax due for the net income of the PTE through either estimated tax payments or withholding tax payments order payable to New Mexico Taxation and Revenue Depart Owner FEIN or SSN: Check one: FEIN SSN Owner FEIN or SSN: Enter the owner's federal employer Owner name: Owner name: Enter the name and mailing address of the owner of the PTE Mark the box if the address is outside the U S owner s name and federal employer s identification number as shown on this form will need to file this form by paper If you have previously filed this form or any New Mexico tax return you are encouraged to file using the Department s web site First time filers will need to create a Login Name and Password If you need additional information regarding OWNER'S QUARTERLY TAX PAYMENT Page 1 of 2 Page 2 of 2 PASS THROUGH ENTITY Pass through entity FEIN: Pass through entity FEIN: Enter the federal identification Pass through entity name: Pass through entity name: Enter the name of the PTE for whom a withholding tax payment is made for the owner's share of the PTE s net income Pass Through Entity Owner's PASS THROUGH ENTITY OWNER'S QUARTERLY TAX PAYMENT payment such as estimated payments The owner can Penalty PTW O Quarterly report period: Quarterly report period: Enter a quarterly report period that is based on a calendar quarter Enter the month day and year Quarterly Tax Payment Instructions quarterly withholding from the net income of its owners members or partners (owners) during the calendar quarter in which the net income was earned Certain exceptions to the requirement to withhold are allowed and documentation must be maintained in the PTE s records to establish that the PTE had reasonable cause for not withholding To establish reasonable cause for not withholding the PTE must be able to establish one of the following "Exceptions" The second bullet explains when the agreement may be used to avoid withholding from a PTE If you are not required to be withheld from because of one of the other reasons contact the PTE Round line 1 to nearest whole dollar Signature Date E mail address Signature:The form is not complete until the owner or owner s authorized agent has signed and dated the report Enter the e mail address of the owner or owner's authorized agent STATE OF NEW MEXICO STATE OF NEW MEXICO TAXATION AND REVENUE DEPARTMENT Street/box: Tax Due x the daily interest rate for the quarter x number of days late = interest due tax return to the Taxation and Revenue Department using the TAXATION AND REVENUE DEPARTMENT The amount of tax withheld from the owner's net income may be reduced but not below zero by the amount required to be withheld by a payor (remitter) for oil and gas proceeds or The formula for computing interest is: the nearest whole dollar; for example; enter $10 49 as $10 and $10 50 as $11 The owner can satisfy its requirement to file and pay the The PTE made a timely election for federal income tax purposes that changes the net income of a pass through entity in a prior quarter is reasonable cause for failure to withhold and deduct the required amounts on the change in net income due to the election or the reacquisition after December 31 2008 and before January 1 2011 of an applicable debt instrument for the period 2014 through 2018 and the entity has insuf ficient cash to remit the withholding amount due on the TOTAL When is an agreement required: When to File: The tax is due on or before the 25th day of the month following the close of the calendar quarter in which the net income was earned If the due date of the return falls on a Saturday Sunday or state or national legal holiday the return is timely if the postmark bears the date of the next business day If no withholding tax payment is due for a report period no quarterly return is due Where to File: File and pay the tax due online using the Department s web site at https://efile state nm us See also "File and Pay" in these instructions If you need additional information regarding forms or instructions please visit www tax new mexico gov If you cannot electronically file see the instructions For assistance completing this return call (505) 827 0825 Who Must File: Owners of net income from a pass through entity (PTE) who enter into an agreement with the PTE to pay the tax required to be withheld by the PTE according to the Oil and Gas Proceeds and Pass Through Entity Withholding Tax Act (7 3A 1 NMSA 1978) submit to the Department the tax due on this form RPD 41356 Pass Through Entity Owner's Quarterly Tax Payment See the instructions for exceptions and adjustments The agreement may be made by completing Form RPD 41353 Owner's or Remittee's Agreement to Pay Withholding on Behalf of a Pass Through Entity or Remitter With respect to tax years 2014 through 2018 the PTE has elected pursuant to 26 USC 108(i) to defer income withholding is required You are not required to file this return if reporting for a tax year after January 1 2012 or a tax year ending before January 1 2011 For tax years 2012 and after pay the tax due through estimated payments withholding tax and by filing the New Mexico income tax return and paying the tax due