New Mexico Administrative Code
Title 3 - TAXATION
Chapter 18 - OIL AND GAS TAXES (SEVERANCE TAX)
Part 3 - IMPOSITION OF TAX - RATES
Section 3.18.3.9 - WELL WORKOVER INCENTIVE TAX RATE REQUIREMENTS
Current through Register Vol. 35, No. 18, September 24, 2024
A. Laws 1999, Chapter 256 amended the provisions of Sections 7-29B-2 and 7-29B-3 NMSA 1978, effective June 18, 1999. The first returns due after that date are the returns for May 1999. Consequently the changes made by Laws 1999, Chapter 256 apply only to the May 1999 and subsequent production months.
B. Any application, or an amendment to any application, for the well workover incentive tax rate for any production period prior to May 1999 must be filed in accordance with the provisions of the Oil and Gas Severance Tax Act and the Natural Gas and Crude Oil Production Incentive Act in effect on June 17, 1999. The information required by Paragraph 7-29B-3 B(3) NMSA 1978, as that section was in effect on June 17, 1999, must accompany the application.
C. To obtain the well workover incentive tax rate, the person responsible for paying the oil and gas severance tax must apply for it on form RPD 41171, completed in accordance with instructions of the department. Application must be made within 6 months after the date the oil conservation division certifies that the project has been completed.
