Form Dr-142 - Instructions For Filing Solid Mineral Severance Tax Return printable pdf download

DR-142

R. 12/99

Page 3

Instructions for Filing Solid Mineral Severance

Tax Return

General Instructions

Who must file a return? Every producer severing solid minerals from the soil or waters of Florida must file an

annual return. “Solid mineral,” as defined by law means all solid minerals including, but not limited to, clay,

gravel, phosphate rock, lime, shells (excluding live shellfish), stone, sand, heavy minerals, and any rare earths

that have been discovered or may be discovered in the future, which are contained in the soils or waters of this

state.

When is the return due? The return is due on or before April 1st of the year following the taxable year.

(For example, the 1998 tax return is due on or before April 1, 1999.)

When must the tax be paid? An estimated tax must be paid in installments during the tax year (see Form

DR-142ES). Any balance due with the annual return must be paid on or before April 1st of the year following

the tax year.

Late filing of annual return: If a tax return is not filed by April 1st or if any part of a deficiency is due to

negligence or intentional disregard of the law, a delinquency penalty of 10 percent per month up to a maximum

of 50 percent will be due on any unpaid tax. In addition, interest at the floating market interest rate is due on

any unpaid tax, calculated from April 1st to the date of payment.

Underpayment of estimated tax: Penalty (at the rate of 20 percent per year) and interest (at the floating

market interest rate) are due upon the amount of any underpayment of estimated tax. For additional informa-

tion, see Form DR-142ES.

Penalty for substantial underpayment: In addition to the delinquency penalty, a deficiency which exceeds

35 percent of the total tax due is subject to a “substantial underpayment” penalty of 30 percent of the

underpayment.

Electronic funds transfer (EFT): Any taxpayer who paid more than $50,000 in severance taxes between

July 1 and June 30 (the state's fiscal year) is required to remit taxes by EFT in the following calendar year.

For more information, contact the Electronic Funds Transfer Program, P. O. Box 2096, Tallahassee, FL

32316-2096; or call 850-487-7972.

Amended returns: If you are filing an amended return, use a blank Form DR-142 and check the

"amended" box on the front page. Complete your name, address, and federal employer identification

number (FEIN). Enter the taxable year of the amended return. Complete the form in its entirety,

showing the total production of solid minerals for the taxable year. On line 5 on the front of the form, list

the estimated payments that were made, and the payment (if any) made when the original return was

filed. If line 7 results in additional tax due, calculate penalties and interest from the original due date

(April 1st ) to the date the amended return and payment are postmarked.

Where to mail return: Mail your completed return and payment to:

Florida Department of Revenue

5050 W TENNESSEE ST

TALLAHASSEE FL 32399-0150

If you need more information or forms: If you have questions about completing this return or the

filing requirements for this tax, or you need additional forms, please contact Taxpayer Services at

1-800-352-3671 (in Florida only) or 850-488-6800.

Form Dr-142 - Instructions For Filing Solid Mineral Severance Tax Return