The first purchaser of crude oil in Texas must pay tax based on crude oil’s market value.
Monthly: 25th day of the month following the production month (for example, April 25 for March production).
Select the amount of taxes you paid in the preceding state fiscal year (Sept. 1 – Aug. 31) to find the reporting and payment methods to use.
Taxpayers are required to report project numbers for corresponding leases involving tax exemptions or enhanced oil recovery (EOR) projects and EOR projects using anthropogenic carbon dioxide.
Taxpayers can report multiple Exempt Types in a single lease transaction. The eligible Exempt Types include:
|Exempt Type||Reporting Requirements|
|Type 11||Continue to reduce the “Net Taxable Value” field by the appropriate percentage.|
|Type 05 and 14||Report a valid project number. If the project number is not reported, the tax exemption is disallowed.|
|Type 05 and/or 14||
The Comptroller’s office will automatically apply the tax credit for report periods of February through June 2016, for an Exempt Type 11 lease if amended reports were filed for previously-approved Exempt Type 05 leases.
The Comptroller’s office will not apply the tax credit for report periods of February through June 2016, for an Exempt Type 11 lease if the lease has not been approved as an Exempt Type 11 lease and amended reports have not been filed by April 26, 2019 for previously-approved Exempt Type 05 leases.
For assistance, contact our office at 800-531-5441, ext. 3-4455.
In 2015, the Texas Legislature passed House Bill 855, which requires state agencies to publish a list of the three most commonly used Web browsers on their websites. The Texas Comptroller’s most commonly used Web browsers are Google Chrome, Microsoft Internet Explorer and Apple Safari.