Form Rpd-41086 - Report Of Severance Tax - Coal Page 2
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1
2INSTRUCTIONS FOR
REPORTING SEVERANCE TAX - COAL
TYPE OF COAL
Total Severance Tax Due - (1) Total short tons multiplied by
(1) "Surface Coal" means all coal which is severed using
surface mining methods.
the tax rate. (2) Total Intergovernmental Tax Credit from ITC
worksheet.
(2) "Underground Coal" means all coal that is not surface
coal.
(3) "Intergovernmental Tax Credit" (ITC) for coal severed
Date Payment of Tax Due, Section 7-1-13 NMSA 1978 - The
severance tax is to be paid on or before the twenty-fifth day of the
and saved from tribal lands. Refer to Section 7-29C-2 NMSA
1978. Complete ITC worksheet.
month following the month in which the taxable event occurs.
Price Per Unit - Sales Price
Each form must be submitted in its entirety so that it can be
processed properly.
Quantity - Number of short tons (two-thousand pounds) of coal
severed and saved.
Copies of applicable tax acts may be obtained from the Taxation
and Revenue Department.
Gross Value - Price per unit multiplied by the quantity.
7-26-6.2 NMSA 1978
PENALTY AND INTEREST PROVISIONS OF THE TAX
The following coal is exempt from the surtax imposed on coal
ADMINISTRATION ACT
under the provisions of section 7-26-6 NMSA 1978.
"SECTION 7-1-67. INTEREST ON DEFICIENCIES.
Coal sold and delivered pursuant to coal sales contracts that
A.
If any tax imposed is not paid on or before the day on which
are entered into on or after July 1, 1990, under which deliveries
it becomes due, interest shall be paid to the state on such amount
start after July 1, 1990.
from the first day following the day on which the tax becomes due,
without regard to any extension of time or installment agreement,
Coal sold and delivered pursuant to a contract in effect on July
until it is paid.
1, 1990, that exceeds the average calendar year deliveries under
B.
Interest shall be due to the state based upon Section 7-1-67
the contract during production years 1987, 1988 and 1989 or the
NMSA 1978.
highest contract minimum during 1987, 1988 or 1989 whichever
is greater.
"SECTION 7-1-69. CIVIL PENALTY FOR FAILURE TO PAY TAX
OR FILE A RETURN.
If a contract existing on July 1, 1990 is renegotiated between a
A.
In the case of failure, due to negligence or disregard of rules
producer and a purchaser after May 20, 1992 and if that renegoti-
and regulations, but without intent to defraud, to pay when due
ated contract requires the purchaser to take annual coal deliveries
any amount of tax required to be paid or to file a return regardless
in excess of the greater of the average calendar year deliveries
of whether any tax is due, there shall be added to the amount
under the contract during production years 1987, 1988 and 1989
two percent per month or a fraction thereof from the date the tax
or the highest contract minimum during 1987, 1988 and 1989, the
was due or from the date the return was required to be filed, not
surtax imposed by Subsection B of Section 7-26-6 NMSA 1978
to exceed twenty percent thereof, or a minimum of five ($5.00),
shall not apply to such excess deliveries for the remaining term
whichever is greater, as penalty, but the five dollar ($5.00) minimum
of the renegotiated contract.
penalty shall not apply to taxes levied under the Income Tax Act
The taxpayer, prior to taking the exemption provided by this section,
[Chapter 7, Article 2 NMSA 1978] or the Corporate Income and
shall register any contract for the sale of coal that qualifies for the
Franchise Tax Act [Chapter 7, Article 2A NMSA 1978] or taxes
exemption from the surtax on forms provided by the Secretary.
administered by the department pursuant to Subsection B of
Section 7-1-2 NMSA 1978.
If your company qualifies for the lower tax rate imposed by the
above legislative change, under the first column of Form SEV-5
B.
In the case of failure, with intent to defraud the state, to pay
place the wording "Exempt Surface" or "Exempt Underground"
when due any amount of tax required to be paid, there shall be
on separate lines and calculate severance tax in accordance with
added to the amount fifty percent thereof or a minimum of twenty-
applicable tax rates.
five dollars ($25.00), whichever is greater, as penalty."
Tax Rate - upon each short ton of coal severed and saved there
Recovery of excess tax and corrections for erroneous reports are
shall be imposed on the severer a severance tax, plus surtax
prepared in identical manner. Amended reports must be prepared,
pursuant to Section 7-26-9 NMSA 1978 or severance tax only
consisting of a separate report for each reporting month. Only
pursuant to Section 7-26-6.2 NMSA 1978. The total severance
those entries being corrected are to be included and must show
surtax and severance tax if applicable on coal effective July 1,
these entries:
2013 is as follows:
(1) Original entry. Use parentheses to indicate a credit entry or
Surface
Underground
the word "none" if there was no original entry.
Base Tax Rate ....................... $
0.570
$
0.550
Surtax Rate............................ $
1.30
$
1.26
(2) Corrected entry. This entry will show the corrections being
Total Tax Rate ....................... $
1.87
$
1.81
made.
Surface
Underground
Exempt Coal .......................... $
0.570
$
0.550
See 7-26-6.2 NMSA 1978
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