Dr 0021w colorado form 2025

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The document provides instructions for producers and first purchasers regarding the preparation of the DR 0021W form for severance taxpayers in Colorado. It outlines how to report gross income, ad valorem taxes, and severance tax withheld on both cash and accrual bases. Additionally, it emphasizes the requirement for producers to withhold 1% of gross income and submit an Oil and Gas Withholding Statement annually by March 1, along with guidance on claiming credits through the Colorado Severance Tax Return.

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Click ‘Get Form’ to open the DR 0021W in our editor.
Begin by filling out Boxes 1-5 with the required information, including well name, lease, field, county, and API well number.
For Line 6, enter the total gross income on both cash and accrual basis. Ensure you report all payments made during the year for accurate calculations.
In Line 7, specify the gross income attributable to stripper well production for both cash and accrual basis.
Proceed to Line 8 and input the ad valorem tax amounts related to oil and gas production on both bases.
For Line 9, enter the ad valorem tax specifically for stripper well production.
Complete Line 10 by entering the severance tax withheld for the calendar year.
Finally, fill out Boxes 11 and 12 with payee and payor information as required before saving your document.

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What is box 14 on W-2 in Colorado?

Box 14 Other This box is used to report miscellaneous information, such as: Vehicle - The taxable value of the personal use of company-provided vehicles. PreTax - The total amount of pretax deductions from your cafeteria plan elections. 14M - Moving expenses - Acard.

What is W-2 with Colorado withholding?

The DR 1094 is used by employers to report Colorado W-2 income taxes that have been withheld from employee pay. Review the Wage Withholding Guide(opens in new window) for detailed information about filing requirements and frequencies.

What does Colorado withholding mean?

An employer is required to withhold Colorado income tax from wages paid for services performed: either wholly or partially in Colorado by an employee who is not a Colorado resident; or. either inside or outside of Colorado, or both, by an employee who is a Colorado resident.

What does W-2 withholding mean?

Understand tax withholding An employer generally withholds income tax from their employees paycheck and pays it to the IRS on their behalf. Wages paid, along with any amounts withheld, are reflected on the Form W-2, Wage and Tax Statement, the employee receives at the end of the year.

Do I have to mail form Dr. 1778 Colorado?

The Department strongly recommends that you submit these documents using the e-Filer Attachment option on the Revenue Online(opens in new window) website, which eliminates the requirement to mail this form.

Do I have to file a Colorado severance tax return?

Anyone who receives income from oil and gas production and mining of nonrenewable natural resources must file a severance tax return. Severance tax might be due even though you do not realize a net profit on your investment.

What is a DR21W form?

This Oil and Gas Withholding Statement form lists your gross income from the property indicated and the amount the producer or first purchaser has withheld.

Dr 0021w colorado form 2025

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