Severance taxes-penalties.

WORKING DRAFT
2008
STATE OF
WYOMING
08LSO-0384

HOUSE BILL
NO.
HB0171

Severance
taxes-penalties.

Sponsored by:
Representative(s) Lubnau and Wallis

A BILL

for

AN ACT relating to
severance taxes; limiting offsetting credits to overpaid severance taxes as specified; requiring department of revenue

to calculate penalties;
and providing for an effective date.

Be It Enacted by the Legislature of the State of
Wyoming
:

Section 1.
W.S. 39
‑
14
‑
108
(c)(i) and
(d)(i), 39
‑
14
‑
208
(c)(i) and
(d)(i), 39
‑
14
‑
308
(c)(i) and
(d)(i), 39
‑
14
‑
408
(c)(i) and
(d)(i), 39
‑
14
‑
508
(c)(i) and
(d)(i), 39
‑
14
‑
608
(c)(i) and
(d)(i) and 39
‑
14
‑
708
(c)(i) and
(d)(i) are amended to read:

39
‑
14
‑
108.

Enforcement.

(c)

Interest. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating interest, the department
or board of county commissioners

shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any interest due;

(d)

Penalties. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating penalty, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any penalty due;

39
‑
14
‑
208.

Enforcement.

(c)

Interest. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating interest, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any interest due;

(d)

Penalties. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating penalty, the department shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any penalty due;

39
‑
14
‑
308.

Enforcement.

(c)

Interest. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating interest, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any interest due;

(d)

Penalties. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating penalty, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any penalty due;

39
‑
14
‑
408.

Enforcement.

(c)

Interest. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating interest, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any interest due;

(d)

Penalties. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating penalty, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any penalty due;

39
‑
14
‑
508.

Enforcement.

(c)

Interest. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating interest, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any interest due;

(d)

Penalties. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating penalty, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any penalty due;

39
‑
14
‑
608.

Enforcement.

(c)

Interest. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating interest, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any interest due;

(d)

Penalties. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating penalty, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any penalty due;

39
‑
14
‑
708.

Enforcement.

(c)

Interest. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating interest, the department
or board of county commissioners
shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any interest due;

(d)

Penalties. The following shall apply:

(i)

The taxpayer is entitled to receive an offsetting credit for any overpaid
gross product or

severance tax identified by an audit that is within the scope of the audit period, without regard to the limitation period for requesting refunds. In calculating penalty, the department
or board of county commissioners

shall first compute a net deficiency amount after subtracting any offsetting credit and then calculate any penalty due;

Section
2
.
This act is effective July 1, 2008.

(END)

1
HB0171