Free Utah Severance Tax Quarterly Installment, TC-801 - Utah

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Severance Tax Quarterly Installment
Name and address

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Provide any information below that is not preprinted. Round all volumes and values to whole numbers. Installment Period (provide if not preprinted)

TC-801 Rev. 4/07

A taxpayer whose total tax obligation for the current calendar year will be $3,000 or more, shall pay the current year's tax on a quarterly basis. Utah Code 59-5-107. Quarterly Installment Schedule 1st QTR: Jan - Mar is due June 1 2nd QTR: Apr - Jun is due Sept 1 3rd QTR: Jul - Sept is due Dec 1 4th QTR: Oct - Dec is due Mar 1 (of the next year)

Installment due on or before (provide if not preprinted)

Account number (assigned by Utah Division of Oil Gas & Mining)

OIL See instructions on the reverse side. 1. Produced, saved, sold or transported 2. Deduct product taken in kind 3. Add product received in kind 4. Total (subtract line 2 from line 1 add line 3) 5. Processing/Transportation deduction 6. Total (subtract line 5 from line 4) 7. Exempt royalties 8. Stripper well production exemption 9. 10. 11. 12. First six months of production exemption Wildcat well exemption (First 12 months) Total taxable production (subtract lines 7, 8 and 9 from line 6) (3% of the first $13 per barrel Tax due or $1.50 per mcf) Tax due (5% of $13.01 and above per barrel or $1.51 and above per mcf) Gross volume (in bbls)
$ $ $ $ $ $ $ $ $ $ $

GAS Value Gross volume (in mcf)
$ $ $ $ $ $ $ $ $ $ $

NGL Value Gross volume (in gals)
$ $ $ $ $ $ $ $ $ $ $

Value
$ $ $ $ $ $ $

Value TOTALS (OIL plus GAS plus NGL)

DO NOT USE

$

DO NOT USE

$

DO NOT
$ $ $ $ $ $ $

13. NGL tax due (4% of line 10 NGL column) 14. Incremental taxes at .015 and/or .025 or .02 15. Total tax due (add lines 11 through 14)

$ $

$ $

USE

Minus estimated workover or 16. recompletion credit 17. Payment due (subtract line 16 from line 15 - not less than zero) Penalties and interest will be computed as provided by law and billed by the Utah State Tax Commission for late filing and/or late payments. I have reviewed this report and certify the information to be accurate and complete. Authorized signature Telephone number Date

For inquires, contact the Utah State Tax Commission, 210 North 1950 West, Salt Lake City, Utah 84134-2400 (801) 297-2200 For account number and field information call the Utah Division of Oil, Gas and Mining (801) 538-5340.

Instructions for Severance Tax Quarterly Installments (TC-801)
NOTE: LINE 1 Effective January 1, 2007, the legislature eliminated the $50,000 annual exemption.

Enter the gross volume and value for ALL oil, gas and natural gas liquids produced, saved, sold or transported. Entries on this line should be made by the operator only. LINE 2 Include on this line product taken-in-kind. LINE 3 Include on this line product received in-kind from wells operated by other producers. LINE 5 PROCESSING/TRANSPORTATION DEDUCTION Enter the amount of processing and transportation costs, as defined by Utah Code 59-5-101, allowable as a deduction from value. LINE 7 EXEMPT ROYALTIES Deduct the amount of royalties equal to the percentage of exempt royalty interest attributable to the United States, State of Utah, Bureau of Indian Affairs and/or Indian Tribe. LINE 8 STRIPPER WELL PRODUCTION EXEMPTION An annual exemption for stripper well production is allowed. Stripper well means "an oil well whose average daily production for the days the well has produced has been 20 barrels or less of crude oil a day during any consecutive 12 month period, or a gas well where average daily production for the days the well has produced has been 60 mcf or less of natural gas per day during any consecutive 90 day period." LINE 9 FIRST SIX MONTHS OF PRODUCTION EXEMPTION An exemption from the payment of severance tax is allowed for a period of six months following the first day of production. WILDCAT WELL PRODUCTION EXEMPTION An exemption from the payment of severance tax is allowed for the first twelve months of production on wildcat wells as defined by Utah Code 59-5-101. LINES 11 AND 12 The severance tax rate for oil is as follows: (i) 3%of the value up to and including the first $13 per barrel for oil; and (ii) 5% of the value from $13.01 and above per barrel for oil. The severance tax rate for natural gas is as follows: (i) 3% of the value UP to and including the first $1.50 per mcf for gas; and (ii) 5% of the value from $1.51 and above per mcf for gas. Utah Code 59-5-102 LINE 13 The severance tax rate for natural gas liquids is 4% of the taxable value for natural gas liquids. Utah Code 59-5-102 LINE 14 INCREMENTAL PRODUCTION TAX REDUCTION A 50% reduction in the tax rate is imposed upon the "Incremental production" achieved from an "Enhanced recovery project," as defined by Utah Code 59-5-101, and approved by the Board of Oil, Gas, and Mining on or after January 1, 1996. LINE 16 RECOMPLETION OR WORKOVER A nonrefundable tax credit is allowed for 20 percent of the expenses incurred in a recompletion or workover approved by the Division of Oil, Gas and Mining. The tax credit for each recompletion or workover may not exceed $30,000 per well during each calendar year. LINE 17 PAYMENT DUE If the credit on line16 exceeds the tax on line 15, the excess credit may be used on subsequent returns. The amount on line 17 cannot be less than zero.