Section 107 – Date tax due — Extensions — Installment payments — Penalty on delinquencies — Audit.
59-5-107. Date tax due — Extensions — Installment payments — Penalty on delinquencies — Audit. (1) Except as provided in Subsections (2) and (3), the tax imposed by this part is due and payable on or before June 1 of the year next succeeding the calendar year when the oil or gas is: (a) (i) […]
Section 102 – Definitions — Severance tax — Computation — Rate — Annual exemption — Tax credits — Tax rate reduction.
Effective 7/1/2021 59-5-102. Definitions — Severance tax — Computation — Rate — Annual exemption — Tax credits — Tax rate reduction. (1) As used in this section: (a) “Division” means the Division of Oil, Gas, and Mining created in Section 40-6-15. (b) “Office” means the Office of Energy Development created in Section 79-6-401. (c) “Royalty […]
Section 103.1 – Valuation of oil or gas — Deductions.
Effective 3/28/2016 59-5-103.1. Valuation of oil or gas — Deductions. (1) (a) For purposes of the tax imposed under Section 59-5-102 and subject to Subsection (2), the value of oil or gas shall be determined at the first point closest to the well at which the fair market value for the oil or gas may […]
Section 104 – Statements filed — Contents — Falsification as perjury.
59-5-104. Statements filed — Contents — Falsification as perjury. (1) (a) Every producer engaged in the production of oil or gas from any well or wells in the state shall file with the commission, on or before June 1 of each year, on forms furnished by the commission, a statement containing the information required by […]
Section 106 – Interest and penalty — Overpayments.
59-5-106. Interest and penalty — Overpayments. (1) In case of any failure to make or file a return required by this chapter, the penalty provided in Section 59-1-401 and interest at the rate and in the manner prescribed in Section 59-1-402 shall be charged and added to the tax. The amount so added to any […]