Form Dr-142 - Solid Mineral Severance Tax Return Page 5
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12DR-142
R. 01/13
Page 5
Instructions for Filing the Solid Mineral Severance
Tax Return
General Instructions
Who must file a return? Every producer severing solid
Penalty for Substantial Underpayment: If your underpayment
minerals from the soil or waters of Florida must file an annual
exceeds 35 percent of the total tax due, you will be subject
return. Solid mineral, means all solid minerals including, but not
to a substantial underpayment penalty of 30 percent of the
limited to, clay, gravel, phosphate rock, lime, shells (excluding
underpayment. This will be in addition to other penalties and
live shellfish), stone, sand, heavy minerals, and any rare earths
interest.
that have been discovered or may be discovered in the future,
Electronic Funds Transfer (EFT): Any taxpayer who paid
which are contained in the soils or waters of this state.
more than $20,000 in severance taxes between July 1 and
When must the tax be paid? An estimated tax must be paid
June 30 (the state’s fiscal year), must pay their taxes by
in installments during the tax year (see Form DR-142ES). Any
electronic funds transfer in the next calendar year. Visit the
Department's Internet site at for
balance due with the annual return must be paid on or before
April 1
of the year following the taxable year.
information on paying severance tax electronically.
st
Return Due Date? The return is due on or before April 1st of
Amended Returns: If you are filing an amended return,
the year following the taxable year. (For example, the 2011 tax
use a new Form DR-142 and check the “amended” box on
return is due on or before April 1, 2012.) If the due date falls
the front page. Enter your name, address, federal employer
on a Saturday, Sunday, or state or federal holiday, returns and
identification number (FEIN), and the taxable year you are
payments will be considered timely if postmarked on the next
amending. Complete the entire return, showing the total
business day. Late-filed returns are subject to penalty and
production of solid minerals for the taxable year covered by the
interest.
amended return. On Line 18a, add your estimated payments to
any subsequent payments that were made and enter the result.
Late Returns: If your return and payment are late, a
If Line 19 results in additional tax due, you must calculate
delinquency penalty of 10 percent of any tax due will be added
penalties and interest from the original due date (April 1
) to the
st
for each month, or portion of a month, the return is late. The
date the amended return and payment are postmarked.
penalty can not exceed 50 percent of the total tax due. Florida
law provides a floating interest rate for late payments of taxes
Mail your completed return and payment to:
due. Interest rates, including daily rates are published in Tax
Florida Department of Revenue
Information Publications (TIPS) that are updated semiannually
5050 W Tennessee St
on January 1 and July 1 of each year and posted online at
Tallahassee Fl 32399-0150
.
The tax rate for heavy mineral production is adjusted each year
Underpayment of Estimated Tax: You must pay a penalty (at
based on the producer price index. Tax rates are published
the rate of 20 percent per year) and interest (at a floating rate)
annually in TIPs. The TIPs are mailed to producers on or before
on any underpayment of estimated tax. For more information,
April 15th and posted online at .
see Form DR-142ES.
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