Reporting Instructions Form For Oil And Gas Taxes - North Dakota Office Of State Tax Commissioner Page 18
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42PROCEDURE FOR REPORTING RECLAIMED OIL
The operator of a reclaiming plant must report and pay tax on the gross value of oil reclaimed from tank bottoms, pit oil, and saltwater
pursuant to N.D.C.C. § 57-51-05.1. The gross value of oil reclaimed from tank bottoms and pit oil is the purchase price of the material
from which the oil is reclaimed. If no cash price is paid for the tank bottom and pit oil material, the reclaimed oil has no value at the well.
The gross value of oil reclaimed from saltwater (i.e., skim oil) is the sales price received from the purchaser of the reclaimed oil.
FORMS REQUIRED
The T-12 Oil Report is used to report and pay the gross production and oil extraction tax due on reclaimed oil. Refer to the T-12 Oil
Report instructions for completing this report. Special instructions used for reporting reclaimed oil are:
Block 1. Barrels of Oil Purchased/Sold: Total barrels purchased and/or sold during the reporting month.
Block 2. Value of Oil Purchased/Sold: Net value of oil purchased and/or sold.
•
Cash price paid for tank bottoms or pit oil; if no cash price, enter zero.
•
Sales price received for oil reclaimed from saltwater (i.e., skim oil).
Block A. Pool Code:
Use the pool code 99 if the producing pool is unknown.
Block B. Well Code:
Use the well code WW if the applicable well code is unknown.
API Number:
Use the group number D999 preceded by the county code number (i.e. 053-D999 for reclaimed oil from McKenzie
county). If the county of production is unknown, use county code number 201 for unknown source (see Exhibits
for a list of county code numbers).
Block D. Posting Code: Use the posting code REC1 if the oil is not purchased and/or sold subject to a published North Dakota
posting.
PROCEDURE FOR REPORTING VOLUME GAINS
Volume gains and losses are calculated on a monthly basis by subtracting the total amount of oil received by the purchaser or transporter,
as measured at the well or at the trunkline, from the total amount of oil delivered and measured at a subsequent point. If this calculation
results in a positive number, there is a volume gain. If this calculation results in a negative number, there is a volume loss. For purposes of
calculating a volume gain or loss, a volume gain cannot be decreased and volume loss cannot be increased by oil lost due to spillage,
leakage, fire, theft, or any other event resulting in a physical loss of oil.
FORMS REQUIRED
Oil Purchaser:
th
The Schedule T-83 is used to calculate monthly volume gains or losses and is due the 25
day of the month following
the month the gain or loss is realized.
Oil purchasers must submit a gain or loss information report for each month using the Schedule T-83 (see Exhibits). A
purchaser may choose to submit a monthly over and short report compiled during the ordinary course of business in
place of the Commissioner’s Schedule T-83; however, this schedule must contain the following information applicable to
each station:
•
North Dakota loss carryforward from the last period.
•
Total station gain/loss for the current period.
•
Percent of gain/loss applicable to North Dakota.
•
North Dakota loss carryforward ending balance.
•
Average station price.
Page 16
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