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GENERAL INFORMATION

across the top of the return and the date of death next

CAN I GET AN EXTENSION OF TIME FOR FILING THE

to the deceased person's name. Additionally, you

SEVERANCE TAX RETURN?

must sign the return and write "filing as surviving

Yes. If you are unable to complete your severance tax

spouse" or "filing as legal representative" by your

return by the filing deadline and you estimate that

signature.

you will owe severance tax, you can request a six-

Any person other than the surviving spouse who

month extension by filing form DR 21S included as

files a return and requests a refund on behalf of a

page 11 of this booklet. Form DR 21S is an extension

deceased person must file form DR 102, available

of time for filing your return. It is not an extension of

from the Department of Revenue, and a copy of the

time for paying your severance tax.

death certificate with the return.

An extension of time for filing your federal or Colo-

rado income tax return does not qualify as an exten-

sion of time for filing your severance tax return if you

HOW LONG SHOULD I KEEP MY SEVERANCE TAX

owe severance tax. If no balance of severance tax is

RECORDS?

due, an extension for filing is not required.

Keep all records you used in preparing your return

for at least 3 years after the due date or filing date of

your return, whichever is later. If your return is

CAN I AMEND MY COLORADO SEVERANCE TAX

audited by the Colorado Department of Revenue,

RETURN?

you must be able to provide back-up documents for

Yes. A change or correction on your return must be

all claims and credits listed on your return. Please

reported on form DR 21X. This form is included on

note that you are not protected from audit adjust-

page 9 of this booklet.

ments to your severance tax return simply because

an operator or purchaser supplied the information.

Also, the Department of Revenue may request copies

CAN I FILE SEVERANCE TAX RETURNS FOR PRIOR

of your Federal and Colorado income tax return or

YEARS?

other documentation in connection with your Colo-

rado severance return.

Yes. However, the statute of limitations for claiming

a severance tax refund is three (3) years from the due

date.

HOW DO I REPORT OIL SHALE ROYALTY PAYMENTS?

Oil shale is not currently produced in Colorado. If

ARE ESTIMATED SEVERANCE TAX PAYMENTS RE-

you have received royalties on Colorado oil shale for

QUIRED?

prior years, please contact the Department of Rev-

enue for assistance in filing the severance tax return.

Corporations who expect their Colorado severance

tax liability for the year to exceed their Colorado

severance credits by $1,000 or more are required to

DO I ALSO HAVE TO PAY COLORADO STATE IN-

file a quarterly declaration of estimated severance

COME TAXES ON MY OIL AND GAS INCOME?

tax on form DR 21P, available upon request from the

Department of Revenue. Individuals are not re-

Yes. Severance tax is different from income tax. If

quired to make estimated payments for severance

you receive oil, gas, or CO

income from Colorado

tax.

sources you must also complete and file a Colorado

state income tax return. Contact the Department of

Revenue for the state income tax form 104. DO NOT

HOW DO I FILE ON BEHALF OF A DECEASED TAX-

CLAIM SEVERANCE TAX WITHHOLDING AS

PAYER?

A TAX CREDIT ON YOUR COLORADO INCOME

TAX RETURN.

If you are a surviving spouse or legal representative

of someone who died during 2003, you may file a

return on the deceased's behalf. Write "deceased"

Form Dr 21s - Application For Extension Of Time To File Colorado Severance Tax Return - 2003 Page 2

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