Loading
Form preview picture

Get CO DoR DR0021 Booklet 2020-2024

Booklet Includes Book 07/02/18 DR 0021 Colorado Severance Tax Booklet This book includes Oil and Gas Severance Tax Return Oil and Gas Severance Tax Computation Schedule Application for Extension of Time to File Colorado Severance Tax Return MAIL COLORADO SEVERANCE TAX RETURNS AND TAX PAYMENTS TO COLORADO DEPARTMENT OF REVENUE Denver CO 80261-0006 Page 2 General Information natural resources that are removed from the earth in Colorado. The tax is calculated on the gross income from oil and gas and carbon dioxide production* Who Must File Return DR 0021 Anyone who receives taxable income from oil or gas produced in Colorado. If you are a producer or own a working interest or a royalty interest in any oil or gas including carbon dioxide produced in Colorado or if you receive royalties on Colorado oil shale you must pay severance tax to the State of Colorado. Severance tax might be due even though you do not realize a net profit on your investment. A limited partnership LLC or S Corporation must file at the entity level* Partners members or shareholders do not file a severance tax return to report oil and gas income received by the pass-through entity. A General Partnership will not file at the entity level* Each partner and not the general partnership is required to file a return* Oil and gas production from stripper wells is exempt from severance tax. This includes oil from a well that produces 15 barrels or less of crude oil per day or gas from a well that produces 90 000 cubic feet or less of gas per day for the average of all producing days during the taxable year. Each commodity must be tested for each well to determine that commodity s stripper well status. More information about stripper well withholding and filing requirements can be found at Colorado. gov/Tax by reading FYI Withholding 4 and FYI General 4. Exception It is not necessary to file a severance tax return if you meet both of the following conditions 1. the total gross oil and gas withholding on form s DR 0021W for the calendar year is less than 250 and 2. the producer has withheld sufficiently from royalty or production payments to cover the severance tax liability. Severance Withholding Producers or first purchasers who disburse funds must withhold 1 of the gross income for each interest owner. This can include royalty working interest or any other interest owner. The producer or first purchaser is required to send the DR 0021W Oil and Gas Withholding Statement to interest owners by March 1 of each year. This form lists the gross income and the amount of severance tax the producer has withheld and paid to the state from your royalty or production payments. If you own an interest in more than one well or field you should receive a separate withholding statement from each producer or first purchaser. A copy of each withholding statement must be attached to your severance tax return DR 0021. ad valorem taxes if any on the withholding statement. Ad valorem taxes are paid by the producer to local governments cities and counties. You are allowed a credit against severance tax of 87.

How It Works

dr 0021 rating
4.8Satisfied
29 votes

Tips on how to fill out, edit and sign Colorado severance tax booklet online

How to modify Colorado dr0021: customize forms online

Take away the mess from your paperwork routine. Discover the easiest way to find and edit, and file a Colorado dr0021

The process of preparing Colorado dr0021 needs accuracy and attention, especially from people who are not well familiar with this type of job. It is essential to get a suitable template and fill it in with the correct information. With the right solution for processing paperwork, you can get all the tools at hand. It is simple to simplify your editing process without learning new skills. Find the right sample of Colorado dr0021 and fill it out quickly without switching between your browser tabs. Discover more instruments to customize your Colorado dr0021 form in the editing mode.

While on the Colorado dr0021 page, just click the Get form button to start editing it. Add your information to the form on the spot, as all the needed tools are at hand right here. The sample is pre-designed, so the work required from the user is minimal. Just use the interactive fillable fields in the editor to easily complete your paperwork. Simply click on the form and proceed to the editor mode without delay. Complete the interactive field, and your document is good to go.

Try more instruments to customize your form:

  • Place more textual content around the document if needed. Use the Text and Text Box instruments to insert text in a separate box.
  • Add pre-designed graphic elements like Circle, Cross, and Check with respective instruments.
  • If needed, capture or upload images to the document with the Image tool.
  • If you need to draw something in the document, use Line, Arrow, and Draw instruments.
  • Try the Highlight, Erase, and Blackout tools to change the text in the document.
  • If you need to add comments to specific document parts, click the Sticky tool and place a note where you want.

Often, a small error can wreck the whole form when someone completes it by hand. Forget about inaccuracies in your paperwork. Find the samples you need in moments and complete them electronically using a smart editing solution.

Get form

Experience a faster way to fill out and sign forms on the web. Access the most extensive library of templates available.

Video instructions and help with filling out and completing 2018 co severance

Make the most of our instructional video guide for filling out and executing Form with our online editor. Start now so you can relax afterwards.

Get This Form Now!

Use professional pre-built templates to fill in and sign documents online faster. Get access to thousands of forms.

Keywords relevant to severance tax form

  • severance tax return
  • tax colorado booklet
  • tax colorado oil
  • 0021S
  • yy
  • itin
  • SSN
  • EFT
  • 15th
  • FEIN
  • preparers
  • 0021ws
  • FYI
  • debited
  • llc
If you believe that this page should be taken down, please follow our DMCA take down processhere.
Ensure the security of your data and transactions

USLegal fulfills industry-leading security and compliance standards.

  • 
                            VeriSign logo picture

    VeriSign secured

    #1 Internet-trusted security seal. Ensures that a website is free of malware attacks.

  • Accredited Business

    Guarantees that a business meets BBB accreditation standards in the US and Canada.

  • 
                            TopTenReviews logo picture

    TopTen Reviews

    Highest customer reviews on one of the most highly-trusted product review platforms.