Form Dr-145x - Oil Production Monthly Amended Tax Return (2012) Page 4
ADVERTISEMENT
1
2
3
4DR-145X
R. 07/12
Page 4
Net Change –
Line 2
Enter the approved credit for contributions made to
nonprofit scholarship funding organizations. The credit
•
Subtract the amended gross value from the gross value
cannot exceed 50 percent of the gross tax due.
reported on the previous return and enter the result.
Line 3
Enter the amount of any outstanding credit memos
•
Multiply the net change in gross value by the tax rate and
issued by the Department of Revenue. You must attach
enter the result under Net Tax Due/Credit.
the original credit memos to the back of this return.
Note: The tax rate on the production of oil is measured by the
method of extraction and the value per barrel. Value is defined as
Line 4
Subtract the sum of Lines 2 and 3 from Line 1.
the sale or market price of the oil at the point it reaches the mouth
Line 5
Calculate penalty if your amended return was not
of the well in its natural, unrefined condition. The following tax
timely filed. The penalty rate is 10 percent per month,
rates apply:
or portion of a month, not to exceed 50 percent of the
•
Ordinary Oil Production (Schedule I) – 8 percent
tax due. Then multiply the total due on Line 4, by the
•
Small Well Production (Schedule II)– 5 percent
penalty rate.
•
Tertiary/Mature Field Oil (Schedule III) - A tax rate of 1 percent
Line 6
A floating rate of interest applies to underpayments
is levied on the first $60 of value, 7 percent on a value greater
and late payments of tax. We update the rate January
than $60 and less than $80, and 9 percent on a value greater
1 and July 1 of each year by using the formula
than or equal to $80. Tax due is determined by multiplying
established in Florida Statutes. To obtain interest rates,
the total barrels produced times the tiered value per barrel
visit our Internet site.
times the tiered tax rate.
Example 1 - 200 barrels of oil were produced and had a value
Line 7
Add Lines 4, 5, and 6 and enter the result. If you have
of $90 per barrel at the time of production. Tax is calculated
overpaid, you may choose to have a credit memo
as follows:
issued or request a refund. We will pay interest on
refunds if the overpayment of tax has not been paid
•
200 barrels times $60 times 1 percent equals $120.
or credited within 90 days of receipt of a complete
•
200 barrels times $19.99 times 7 percent equals $279.86
application for refund. A complete application must
•
200 barrels times $10.01 times 9 percent equals $180.18
contain documentation establishing the overpayment.
Total tax due in this example equals $580.04
Interest paid by the Department will be computed
Example 2 - 200 barrels of oil were produced and had a value
beginning on the 91st day based on a statutory floating
of $50 per barrel at the time of production. Tax is calculated
interest rate that may not exceed 11 percent.
as follows:
Sign and date your amended return and mail it with your payment
•
200 barrels times $50 times 1 percent equals $100.
to:
Total tax due in this example equals $100.
Florida Department of Revenue
5050 W Tennessee St
•
Escaped Oil Production (Schedule IV) – 12.5 percent
Tallahassee FL 32399-0150
Complete the front of return:
If your payment is made by EFT, be sure to check the EFT box.
Line 1
Carry forward to page 1, Line 1, the net change in tax
due reported on Schedules I, II, III, and/or IV.
Contact Us
Information, forms, and tutorials are available on our Internet site:
To speak with a Department representative, call Taxpayer Services, Monday through Friday, 8 a.m. to 7 p.m., ET, at 800-352-3671.
To find a taxpayer service center near you, go to: /contact.html
For written replies to tax questions, write to:
Taxpayer Services - Mail Stop 3-2000
Florida Department of Revenue
5050 W Tennessee St
Tallahassee FL 32399-0112
Subscribe to our tax publications to receive due date reminders or an e-mail when we post:
• Tax Information Publications (TIPs).
• Facts on Tax, a quarterly publication.
• Proposed rules, notices of rule development workshops, and more.
Go to: /list/
Reference: Section 211.02 Florida Statutes
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial