Form 381 - Oil Severance Tax Return Page 2
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4381, Page 2
Definitions
STRIPPER WELL CRUDE OIL - Oil produced and sold from a property whose maximum daily average production of crude oil per
well during any consecutive 12-month period does not exceed 10 barrels.
MARGINAL PROPERTY CRUDE OIL - A “property” whose daily average production (excluding condensate recovered in
non-associated production) per well during any preceding consecutive 12-month period that did not exceed the number of barrels
shown in the following table for the average completion depth.
Average Completion Depth in Feet
Barrels Per Day
2,000 or more, but less than 4,000 ....................... 20 or less
4,000 or more, but less than 6,000 ....................... 25 or less
6,000 or more, but less than 8,000 ....................... 30 or less
8,000 or less ......................................................... 35 or less
To receive approval for “Marginal/Stripper” status, provide the Michigan Department of Treasury with production figures and copies
of original returns for 12 consecutive months. We will respond in writing.
Oil and Gass Fee Rates by Calendar Year
Calendar Year
Fee
2009
.0025
..........................................
2010
.0029
..........................................
2011
.0100
..........................................
2012
.0092
..........................................
ESTIMATED RETURN - A return that includes an estimated payment.
ACTUAL RETURN - A return that reports actual production figures for the filing period.
ADJUSTED RETURN - A return that reports additional figures not reported on an ACTUAL return.
You may NOT file an ADJUSTED return unless you have filed an ACTUAL return for the return period. Report only the net changes
to the return period.
CONDENSATE - Condensate, as generally defined by fifteen states of the United States of America, is the liquid hydrocarbons
recovered at the surface that result from condensation due to reduced pressure or temperature of petroleum hydrocarbons existing
initially in a gaseous phase in the reservoir.
For severance tax purposes, the taxation of production of condensate will depend on the classification of the well as determined by the
Supervisor of Wells. A well classified as an oil well, shall be taxed as oil if the production is liquid phase hydrocarbons and the
production shall be taxed as gas if the production is associated vapor phase hydrocarbons. A well classified as a gas well by the
Supervisor of Wells, shall be taxed at the gas rate, including the non-associated gas condensate production.
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