SEVERANCE TAX FILING
Let us handle your severance tax
calculations and state filing needs - we do not perform this function for
all states so see us about your specific requirements. If we don't
have the experience needed to best suit your needs we can sub contract the
service with a local knowledgeable resource.
SEVERANCE TAX CALCULATION
- Configure the system to calculate state severance and
witholding per owner
- Analyze production and determine best applicable tax rates per
state requirements
- Calculate severance and production taxes owed in a timely manner
and generate check request
- Maintain history of taxes owed and paid with monthly report
transmittal
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STATE FILING AND
REPORTING
- Submit payments and file electronically if available
- Ensure production reporting, severance tax payments and revenue
distribution are aligned
- Electronic funds transfer
- Reconcile against revenue deposits and distribution to ensure revenue
clearing accounts balance
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