Contents
Key takeaways
Filling out and using the North Dakota T 12 form requires attention to detail and adherence to specific guidelines. Here are key takeaways to keep in mind:
- The T 12 form is used for reporting oil gross production and oil extraction taxes in North Dakota.
- Ensure you check the appropriate box for either "Original Producer" or "Amended Purchaser" at the top of the form.
- Include your Federal I.D. number, name, address, and contact information accurately to avoid processing delays.
- Attach all T-12 Worksheets to the report. These worksheets provide necessary details for calculating taxes owed.
- Calculate the total gross production tax, including any penalties or interest for late payments, and report this on the form.
- For oil extraction tax, similarly, report any penalties or interest, and ensure all calculations are accurate.
- Be mindful of tax credits claimed; enter these as a positive value to reduce your total tax remitted.
- Sign and date the report to certify that the information provided is complete and accurate, as false statements can lead to legal penalties.
- Consider checking the box indicating electronic payment submission if applicable, which may streamline the process.
Document Information
| Fact Name | Description |
|---|---|
| Purpose | The North Dakota T 12 form is used to report oil gross production and oil extraction taxes. |
| Governing Law | This form is governed by the North Dakota Century Code, specifically Section 57-51.1, which relates to oil production taxes. |
| Submission Requirements | Taxpayers must attach all T-12 Worksheets to the report when submitting. |
| Contact Information | For assistance, individuals can contact the Office of State Tax Commissioner at 701-328-3593. |
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Dos and Don'ts
When filling out the North Dakota T 12 form, it's essential to ensure accuracy and compliance. Here are four things you should and shouldn't do:
- Do double-check all entries for accuracy before submission.
- Do attach all required T-12 Worksheets to your report.
- Do ensure that you have the correct Federal I.D. number listed.
- Do keep a copy of the submitted form for your records.
- Don't leave any sections blank; incomplete forms may lead to delays.
- Don't forget to sign and date the report before submission.
- Don't use outdated forms; always check for the latest version.
- Don't ignore the instructions provided for penalties and interest calculations.
Detailed Steps for Using North Dakota T 12
Completing the North Dakota T 12 form involves providing specific financial information related to oil production and extraction taxes. After filling out the form, it is essential to ensure that all required attachments are included before submission. This will help facilitate the processing of your report.
- Obtain the North Dakota T 12 form from the Office of State Tax Commissioner or their website.
- Indicate whether you are the Original Producer or Amended Purchaser by checking the appropriate box.
- Fill in the year and month for which you are reporting.
- Enter your Federal I.D. Number, Name, Address, Phone, City, State, and ZIP Code in the designated fields.
- Complete the Gross Production Tax section:
- Line 1: Enter the total from Block 8 on the T-12 Worksheet.
- Line 2: Calculate and enter any penalties on the Gross Production Tax.
- Line 3: Calculate and enter any interest on late Gross Production Tax.
- Line 4: Add Lines 1, 2, and 3 to find the total due.
- Complete the Oil Extraction Tax section:
- Line 5: Enter the total from Block 13 on the T-12 Worksheet.
- Line 6: Calculate and enter any penalties on the Oil Extraction Tax.
- Line 7: Calculate and enter any interest on late Oil Extraction Tax.
- Line 8: Add Lines 5, 6, and 7 to find the total due.
- Line 9: Add Lines 4 and 8 to determine the total due with this report.
- Line 10: Enter any tax credits claimed as a positive value.
- Line 11: Subtract Line 10 from Line 9 to find the total Gross Production and Oil Extraction Tax remitted with this report.
- Indicate if payment has been submitted electronically by checking the appropriate box.
- Sign and date the form, declaring the accuracy of the information provided.
- Attach all T-12 Worksheets to the report before submission.