Form DR0021 Colorado Severance Tax - Oil and Gas - Colorado

What Is Form DR0021?

This is a legal form that was released by the Colorado Department of Revenue - a government authority operating within Colorado. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is the Form DR0021?
A: The Form DR0021 is a form used to report and pay severance tax on oil and gas production in the state of Colorado.

Q: Who needs to file the Form DR0021?
A: Any individual or company engaged in oil and gas production in Colorado needs to file the Form DR0021.

Q: How often do I need to file the Form DR0021?
A: The Form DR0021 must be filed on a monthly basis.

Q: What is severance tax?
A: Severance tax is a tax imposed on the extraction of non-renewable resources, such as oil and gas.

Q: How is severance tax calculated?
A: Severance tax is calculated based on the value or volume of the extracted resources, as well as other factors such as the location and type of extraction.

Q: Are there any penalties for not filing the Form DR0021?
A: Yes, failure to file the Form DR0021 or pay the severance tax on time can result in penalties and interest being imposed.