Oil & Gas Severance Tax | Filing Information
You must complete and file a Severance Tax Return (DR 0021) annually. The return and your payment are due on the 15th day of the fourth month after the close of the taxable year.
If you are unable to complete your severance tax return by the filing deadline and you estimate that you will owe severance tax, you can request a six month extension by filing an Extension of Time to File (DR 0021S). This form is just an extension of time for filing your return and is not an extension of time for paying your severance tax. If no balance of severance tax is due, an extension for filing is not required.
A change/correction on your return must be reported on the Amended Tax Return (DR 0021X).
You also must complete and attach to your severance tax return the below forms:
- Oil and Gas Severance Tax Schedule (DR 0021D)
- Copies of any Oil and Gas Withholding Statements (DR 0021W)
You may need to submit additional forms with your DR 0021 depending on your unique tax situation.