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Click ‘Get Form’ to open the Oil Rendition in the editor.
Begin by filling out your personal information in the Statement section, including your name, address, and Operator ID#. Ensure all details are accurate for proper processing.
In Section I, provide the location of your property. This includes entering the well API#s and other relevant identifiers. Make sure to double-check these entries as they are crucial for tax assessment.
Proceed to Section II where you will input lease data. Specify whether the wells are producing or non-producing and include details such as spud date and average production depth.
In Section IV, document your production data for each month of the previous year. Accurately report oil and gas production figures to ensure compliance with state regulations.
Complete Sections V and VI by calculating gross reserve values based on your production data. Follow the provided formulas carefully to derive accurate valuations.
Finally, review all sections for completeness before signing and dating the form. Attach any required additional pages as specified in the instructions.
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Nationally, Kansas ranks as the 11th largest oil producing state and 15th largest natural gas producing state. Over 2,100 licensed oil and gas operators produced nearly 27 million barrels of oil and over 127 billion cubic feet of natural gas this past year.
What is the oil severance tax in Kansas?
The rate of such tax shall be 8% of the gross value of all oil or gas severed from the earth or water in this state and subject to the tax imposed under this act.
How is severance pay taxed in Kansas?
Severance pay is a form of compensation and is considered earnings subject to the earnings tax.
How is severance tax calculated?
Severance Pay FAQs Severance pay is taxed similarly to regular income. In the U.S., employers typically withhold federal income tax at a flat rate of 22% for severance payments. However, if the severance is combined with regular wages, it may be taxed at the individuals normal rate, which could be higher.
What is an oil severance tax?
One common type of tax that states impose on oil and gas companies is severance tax. Severance taxes are imposed on the extraction, production, and sale of non-renewable resources to compensate for the severance (loss) of the resource from the earths surface.
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Kansas Department of Revenue Department overview Jurisdiction Kansas Headquarters 915 S.W. Harrison Street Topeka, Kansas Department executive Mark Burghart, Secretary of Revenue Website .ksrevenue.gov1 more row
Related links
2019 Personal Property Valuation Guide
Rendition to the Kansas Department of Revenue Division of Property Valuation. The annual rendition must be filed with the Division of Property Valuation
The taxpayer is required to file rendition forms to the county appraiser on or before April 1 each year to avoid penalty. Additional information may be found in
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