The Official Website of the Louisiana Department of Revenue
FAQs and Instructions for correctly reporting LDR and DNR codes on the Oil and Gas Severance Tax Returns (Updated 01/30/2008)
A return must be filed by each severer who withholds tax from royalty payments and each purchaser who withholds tax from any amount due a seller or owner if the tax has not yet been paid.
The tax rate for natural gas and equivalent gas volumes of natural gasoline, casinghead gasoline, and other natural gas liquids per 1,000 cubic feet at a base pressure of 15.025 pounds per square inch absolute and at 60 degrees Fahrenheit is adjusted annually on July 1 and may never be less than 7 cents.
Tax returns must be filed on or before the twenty-fifth day of the second month following the month to which the tax is applicable.
The severer must report the kind and quantity of natural resources severed, the names of the owners, the portion owned by each, the location of each natural resource, and the places where severed.
The purchaser must report the names and addresses of all sellers and the quantity and gross price paid for each natural resource.
These reports are due monthly on the same date as the tax.
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* Stripper oil is exempt as long as the average posted price for a 30-day period is less than $20 per barrel.
Tax returns must be filed by the last day of the month following the taxable month.
Every corporation, domestic or foreign, engaged in the business of transporting natural gas by pipeline in Louisiana must file a return.
One percent of the gross receipts from the operation of its franchise or charters in this state.
Returns and payments are due quarterly on the last day of the month following the quarterly period, and become delinquent after this date.
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