Bill Text: MS SB2761 | 2020 | Regular Session | Engrossed
Bill Title: Oil and gas severance taxes; move remittance date back one month.
Sponsorship: Partisan Bill (Republican 1)
Status: (Failed) 2020-06-09 - Died In Committee [SB2761 Detail]
Download: Mississippi-2020-SB2761-Engrossed.html
MISSISSIPPI LEGISLATURE
2020 Regular Session
To: Energy; Finance
By: Senator(s) Carter
Senate Bill 2761
(As Passed the Senate)
AN ACT TO AMEND SECTIONS 27-25-519 AND 27-25-717, MISSISSIPPI CODE OF 1972, TO MOVE THE REMITTANCE DATE FOR OIL AND GAS SEVERANCE TAXES BACK ONE MONTH; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. Section 27-25-519, Mississippi Code of 1972, is amended as follows:
27-25-519. The taxes levied
hereunder shall be due and payable in monthly installments, on or before the
twenty-fifth day of the second month * * * succeeding the month in which the tax
accrues. The taxpayer shall, on or before the twenty-fifth day of the month,
make out a return showing the amount of the tax for which he is liable for the
month before the preceding month, and shall mail or send the same, together
with a remittance for the amount of the tax due, to the office of the
commissioner. Such monthly return shall be signed by the taxpayer or a duly
authorized agent of the taxpayer, and shall be verified by oath.
All administrative provisions of the Mississippi Sales Tax Law, including those which fix damages, penalties, and interest for nonpayment of taxes and for noncompliance with the provisions of said chapter, and all other requirements and duties imposed upon taxpayers, shall apply to all persons liable for taxes under the provisions of this article, and the commissioner shall exercise all the power and authority and perform all the duties with respect to taxpayers under this article as are provided in said sales tax law, except where there is conflict, then the provisions of this article shall control. Any damages, penalties, or interest collected by the commissioner for nonpayment of taxes, or for noncompliance with the provisions of this article, shall be paid into the General Fund of the State Treasury by the commissioner.
The * * * Department of Revenue
may release production information to the State Oil and Gas Board on all oil
produced in this state. Such information may include the name of the producer
or operator and the total number of barrels produced for specific wells and
time periods, but shall not include the value reported or the tax paid on such
production. The State Oil and Gas Board shall provide the * * * Department of Revenue
with production information for each well, which information shall include
field identification, county or counties where the well is located, well name
and American Petroleum Institute number, operator name and well status. The
information authorized in this section to be transferred between the * * * Department of Revenue
and State Oil and Gas Board shall be provided in formats as agreed upon by
those agencies.
SECTION 2. Section 27-25-717, Mississippi Code of 1972, is amended as follows:
27-25-717. The taxes levied
hereunder shall be due and payable in monthly installments on or before the
twenty-fifth day of the second month * * * succeeding the month in which the tax
accrues. The taxpayer shall, on or before the twenty-fifth day of the month,
make out a return showing the amount of the tax for which he is liable for the
month before the preceding month and shall mail or send the same, together
with a remittance for the amount of the tax due, to the office of the
commissioner. Such monthly return shall be signed by the taxpayer or a duly
authorized agent of the taxpayer and shall be verified by oath.
All administrative provisions of the Mississippi Sales Tax Law, including those which fix damages, penalties, and interest for nonpayment of taxes and for noncompliance with the provisions of said chapter, and all other requirements and duties imposed upon taxpayers shall apply to all persons liable for taxes under the provisions of this article, and the commissioner shall exercise all the power and authority and perform all the duties with respect to taxpayers under this article as are provided in said Mississippi Sales Tax Law, except where there is conflict, then the provisions of this article shall control. Provided, however, the statute of limitations for examining returns or to recover taxes and interest on funds held in escrow on price increases shall be three (3) years from the time the tax and interest is withdrawn from the State Depository for distribution to the State Treasury and to the county or counties in which the gas was produced.
Any damages, penalties, or interest collected by the commissioner for nonpayment of taxes or for noncompliance with the provisions of this article shall be paid into the General Fund of the State Treasury by the commissioner.
The * * * Department of Revenue
may release production information to the State Oil and Gas Board on all gas
produced in this state. Such information may include the name of the producer
or operator and the total number of million cubic feet produced for specific
wells and time periods, but shall not include the value reported or the tax
paid on such production. The State Oil and Gas Board shall provide the * * * Department of Revenue
with production information for each well, which information shall include
field identification, county or counties where the well is located, well name
and American Petroleum Institute number, operator name and well status. The
information authorized in this section to be transferred between the * * * Department of Revenue
and State Oil and Gas Board shall be provided in formats as agreed upon by
those agencies.
SECTION 3. This act shall take effect and be in force from and after January 1, 2021.
