Get the free Exempt Production and Value Report by Well Schedule

This document is used for reporting exempt production and value pertaining to oil and gas, specifically for claiming exemptions on oil and gas severance tax returns in Michigan.

How to fill out exempt production and value

How to fill out Exempt Production and Value Report by Well Schedule

1. Gather necessary production data for each well.
2. Access the Exempt Production and Value Report form.
3. Fill in the well identification numbers for each entry.
4. Enter the production volume for each well in the designated field.
5. Include the value of the production as required.
6. Review the information for accuracy.
7. Submit the completed report as per your jurisdiction's requirements.

Who needs Exempt Production and Value Report by Well Schedule?

1. Oil and gas operators.
2. Regulatory agencies monitoring production.
3. Financial institutions assessing project viability.
4. Environmental agencies tracking resource extraction.

People Also Ask about

Does New York tax professional services?

In New York state, professional services are generally not subject to sales tax. How are professional services corporations taxed? How to calculate TDS on professional fees with service tax How to report professional services fees on taxes Are professional services subject to sales tax?

Are software subscriptions taxable in New York?

New York requires sales tax on Software-as-a-Service, although computing power is considered a non-taxable service.

What items are exempt from sales tax in New York State?

Generally, clothing and footwear that's priced under $110 per item is exempt from NY state sales tax and city sales tax. Purchases above $110 per item are subject to normal sales taxes in New York.

What services are taxable in New York?

Gas, electricity, refrigeration, steam, telephone, and television services. Barbers, beauticians, hair restoration, manicures, pedicures, electrolysis, massage, and other similar services. Occupancy of hotel and motel rooms. Cleaning, maintenance, and repair services.

Are professional services taxable in NY?

Introduction. Sales of tangible personal property are subject to New York sales tax unless they are specifically exempt. Sales of services are generally exempt from New York sales tax unless they are specifically taxable.

Do contractors charge sales tax on labor in NY?

In NYS, sales tax applies to two main categories for contractors: repairs and maintenance, and installation services. Repairs and maintenance are subject to tax when they involve fixing or maintaining existing systems or structures, such as repairing damaged roof shingles or fixing a broken railing.

Are maintenance services taxable in New York?

Sales tax on contracting work done on real property is not always collected. If the work done is a capital improvement, it is exempt from sales tax. However, installation, repair, and maintenance work incurs a sales tax.

Is carpet cleaning taxable in New York?

We conclude that Petitioner's rug and carpet cleaning services are exempt from sales tax, but other cleaning services and floor repair services are subject to sales tax.

For pdfFiller’s FAQs

What is Exempt Production and Value Report by Well Schedule?

The Exempt Production and Value Report by Well Schedule is a form used to report production volumes and values of certain exempt resources from oil and gas wells, allowing for compliance with state regulations.

Who is required to file Exempt Production and Value Report by Well Schedule?

Operators of oil and gas wells that produce exempt resources as defined by state regulatory authorities are required to file the Exempt Production and Value Report by Well Schedule.

How to fill out Exempt Production and Value Report by Well Schedule?

To fill out the report, operators should provide accurate production data, including well identification numbers, dates of production, volume of production, and the value of the resources produced, following the guidelines set by the regulatory body.

What is the purpose of Exempt Production and Value Report by Well Schedule?

The purpose of the report is to ensure accurate tracking and compliance with state regulations concerning the production of exempt resources, thereby maintaining oversight in resource management and reporting.

What information must be reported on Exempt Production and Value Report by Well Schedule?

The report must include information such as the well name and number, production dates, total volume of each exempt resource produced, estimated values of the produced resources, and any other details as required by the state agency.