Many private companies were formed years ago using what was known as a Subchapter S election, which refers to the optional treatment of an otherwise taxable C corporation as (generally) a passthrough entity. These structures...more
New Mexico recently enacted legislation qualifying pass-through entities to make an annual election to pay an entity-level state tax for taxable years beginning on or after January 1, 2022. Here’s what it means for your oil...more
6/1/2022
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Income Taxes ,
Limited Liability Company (LLC) ,
Oil & Gas ,
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Pass-Through Entities ,
Required Forms ,
State Taxes ,
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Tax Returns ,
Withholding Tax