Get Severance Tax Return On Sand, Gravel

This guide will assist you in completing the severance tax return on sand, gravel, and other mineral products online. By following these steps, you can ensure that your return is accurate and submitted on time.

Follow the steps to complete your severance tax return online:

1. Press the ‘Get Form’ button to obtain the severance tax return form and open it for completion.
2. Identify the period covered for the severance tax return. This information is typically found on the top section of the form.
3. Enter your account number in the designated field. If your account number is not preprinted, provide your federal employer identification number (FEIN) or social security number (SSN) instead.
4. Fill in the situs code, which corresponds to the location where minerals are severed.
5. Indicate the due date for your return, which is the 15th of the month following the period covered.
6. Complete Schedule A by listing the total tonnage of each mineral type severed, including sand, limestone, sandstone, gravel, lime, and chert. Transfer the total tonnage to Line 1 on the front of the return.
7. Calculate the severance tax by multiplying the total tonnage (Line 1) by the current tax rate indicated on the return.
8. If applicable, list any credits available to reduce your tax liability on Line 3.
9. If the return is filed late, calculate the penalty on Line 4 as 5% of the total tax due for each 30-day period late, not exceeding 25%. Enter this amount.
10. Compute interest on late payments for Line 5 at the current rate from the due date until the return is filed.
11. Determine the total amount due by adding Lines 2, 4, and 5, then subtracting Line 3 if there are credits.
12. Sign and date your return in the signature box provided on the back of the form.
13. Save your completed form, and if necessary, download, print, or share it according to your preferences.

Complete your severance tax return online today!