Form Wv/sev-401t - Timber Severance Tax Return - 2007
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1
2TIMBER SEVERANCE TAX RETURN - 2007
WV/SEV-401T
(Rev 10/07)
Tax Year Beginning
Ending
MM
DD
YYYY
MM
DD
YYYY
The first line of this section is your account identification number.
Please reference your account number on all correspondence.
Please change name and Address if not correct. If you quit busi-
ness, give the date and the name and address of new owner
FORM OF BUSINESS (CHECK ONE)
CHECK IF:
S CORPORATION
CONSOLIDATED
CORPORATION
SEPARATE
PARTNERSHIP
FINAL
INDIVIDUAL
AMENDED
L L C
Enter the Amount of Timber Harvested and the Income Attributable for the Taxable Year
SECTION A:
Quantity*
Gross Proceeds of Sale (Dollar Value)
1. Sawed Timber............
(Board Feet)
2. Pulp Wood Harvested
(Tons)
3. Other (specify)..........
* For Sawed Timber, provide the number of Board Feet of timber harvested. For Pulpwood, provide the number of Tons of pulpwood harvested.
SECTION B:
Before you complete this section, you must complete Section C on the reverse side of this form
1. Gross Tax from Page 2, Section C, Line 5, Column 6...........................................................................
1.
2. a.
Credit for Business Investment and Jobs Expansion, Corporate
2a.
Headquarters and Small Business Investment and Jobs Expansion..
b.
b. Credit for Industrial Expansion and/or Revitalization.................................
c.
c. Credit for Research and Development Projects.........................................
d.
d. West Virginia Capital Company Credit.........................................................
e.
e. Manufacturing Investment Tax Credit...........................................................
3.
3. Total Credits (Lines 2a through 2e) (Attach appropriate schedules)..................................................
4. Adjusted Tax (Line 1 less Line 3)...............................................................................................................
4.
5 .
Annual Credit - $500 per year or $41.67 per month for each month engaged in business
5.
in WV. Only one annual exemption may be claimed by each business entity...................................
6.
6. Net Amount of Tax (Line 4 less Line 5) (If line 5 exceeds Line 4, enter zero)....................................
7.
7. Total estimated payments made for the period covered by this return...............................................
8.
Balance of Tax Due (Line 6 less Line 7) (If Line 7 exceeds Line 6, enter zero and enter the
8.
amount overpaid on Line 13).......................................................................................................................
9. NON-WAIVABLE INTEREST.........................................................................................................................
9.
10. ADDITIONS TO TAX.....................................................................................................................................
10.
11. PENALTY FOR UNDERPAYMENT OF ESTIMATED TAX.......................................................................
11.
12. TOTAL TAX AND LATE FILING CHARGES DUE (Add Lines 8 through 11).......................................
12.
13.
13. If Line 7 is larger than Line 6, enter amount overpaid...................................
Please check one: Refund
Credit
Note: If you fail to designate credit or refund, the overpayment will be credited
MAKE CHECKS PAYABLE TO AND MAIL TO:
WEST VIRGINIA STATE TAX DEPARTMENT
INTERNAL AUDITING DIVISION
PO BOX 425
*B21010701A*
CHARLESTON, WV 25322-0425
FOR ASSISTANCE CALL (304) 558-3333
TOLL FREE WITHIN WV 1-800-WVA-TAXS (1-800-982-8297)
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