Louisiana Administrative Code › Title 61 - REVENUE AND TAXATION › Part III - Administrative and Miscellaneous Provisions › Chapter 15 - Mandatory Electronic Filing of Tax Returns and Payment › Section III-1525 - Severance Tax-Oil or Gas

Current through Register Vol. 50, No. 6, June 20, 2024
A.R.S.
				47:1520(A)(1)(b) authorizes
				the secretary of revenue to require electronic filing of tax returns or reports
				by persons severing oil or gas from the soil or water from the state that are
				required to file reports under
				R.S.
				47:635(A)(2) or
				640(A)(2).
B.R.S.
				47:635(A)(2) requires every
				person severing oil or gas from the soil or water of the state to submit, on or
				before the twenty-fifth day of the second month following the month to which
				the tax is applicable, a statement on forms approved by the department, of the
				business conducted by the severer during the month, showing the gross quantity
				of oil or gas severed or produced, the names of the owners at the time of
				severance, the portion owned by each, the location and place(s) where the oil
				or gas was produced or severed from the soil or water and any other reasonable
				and necessary information pertaining thereto that the secretary may
				require.
C.R.S.
				47:640(A)(2) requires
				purchasers and other persons dealing in oil or gas severed from the soil or
				water in Louisiana to submit, on or before the twenty-fifth day of the second
				month following the month to which the tax is applicable, to the Department of
				Revenue a monthly statement on forms approved by the department, showing the
				names and addresses of all persons from whom they have purchased oil or gas
				during that month, together with the total quantity of, and gross price paid
				for the oil or gas, and, at the time the report is made, pay the amount of tax
				deducted or withheld, or that may be due.
D. Effective with the July 2010 filing
				period, severers of oil or gas that are required to file reports under
				R.S.
				47:635(A)(2) and 640(A)(2)
				shall be required to file the tax returns or report electronically with the
				Department of Revenue using the electronic format prescribed by the
				department.
E.R.S.
				47:633(7)(b) and
				633(7)(c)(i)(aa) provide reduced severance tax rates on oil produced from wells
				that have been certified by the Department of Revenue as "incapable wells" and
				"stripper wells" on or before the twenty-fifth day of the second month
				following the month of production.
F.R.S.
				47:633(9)(b) and 633(9)(c)
				provide reduced severance tax rates on gas produced from wells that have been
				determined by the secretary of revenue to be "incapable oil wells" and
				"incapable gas wells."
G. Beginning
				with the July 2011 production month application that is due September 25, 2011,
				Form G-2, Application for Certification of Incapable Wells, and Form O-2,
				Application for Certification of Stripper/Incapable Wells, must be filed
				electronically with the Department of Revenue on or before the twenty-fifth day
				of the second month following the production month in which the reduced tax
				rate(s) is applicable. If the due date falls on a weekend or holiday, the
				application and electronic filing thereof is due on the next business
				day.
H. Failure to comply with
				these electronic filing requirements will result in the assessment of a penalty
				of $100 or five percent of the tax, whichever is greater, as provided by
				R.S.
				47:1520(B).
1. If it is determined that the failure to
				comply is attributable, not to the negligence of the taxpayer, but to other
				cause set forth in written form and considered reasonable by the secretary, the
				secretary may remit or waive payment of the whole or any part of the
				penalty.
2. If the penalty exceeds
				$25,000, it may be waived by the secretary only after approval by the Board of
				Tax Appeals.
3. If the taxpayer can
				prove electronic filing of a tax return, report, or application for
				certification would create an undue hardship, the secretary may exempt the
				taxpayer from filing the return, report, or application
				electronically.