Frequently Asked Questions
What is the severance tax rate for oil and condensate?
An amended return must be filed electronically. Supporting documentation for verifying overpayments include: 1. Horizontal Well, Deep Well, and Orphan Well Rework Exemptions: i) O-5’s & G-5’s ii) Oil and gas purchase statements, division of interest order, a detailed list of lease operating expenses, approved well certification, and payout statement. Note: This information should only be furnished upon request from LDR. 2. Reduced Rates: i) Incapable oil and Stripper oil a. Monthly Reduced Rate Report (O-3) ii) Incapable oil well gas and Incapable gas well gas a. Monthly Reduced Rate Report (G-3) iii) Half Rate – Inactive oil and gas, Quarter Rate – Orphan oil and gas a. Monthly Oil/Gas Report for Exempt Wells (O-5 & G-5) 3. Volume or Value Change (Upon request from LDR) i) Purchase Statements 4. Transportation (Upon request from LDR) i) Crude Oil Purchase Agreement or Contract
LDR may contact the taxpayer to request additional information to complete the refund review process.