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<< Click to Display Table of Contents >> Navigation: 1099 Module > DR 0021W - CO W/H Report |
This report is found in the 1099 module – under Other Options:
The Colorado W/H Report (DR21-W) - Any Producer, Working, Royalty or Other interest owner of oil and gas produced in Colorado is required to pay severance tax.
Every producer or first purchaser is required to withhold 1% of the Gross Income paid to every owner, and to supply an Oil and Gas Withholding Statement by March 1 of each year.
This can be compared as the state version of the 1099-MISC for O&G. The Difference is that each owner gets one form per property vs one form per owner.
The Revenue Online Registration is required of anyone who is submitting DR 0021W forms.
If you have previously registered to submit W2, W2G, or 1099's you will not need to register again. To register go to Revenue Online
( http://www.Colorado.gov/RevenueOnline ) at least 5 business days before filing your DR 0021W.
1.Select the Year to print.
2.Select additional options, if required:
a.Sort Owner/Labels by Number of Pages to allow the owner copies to print in sequence based on the number of pages for each owner.
b.Select to Omit properties with all 100% payments. If checked owners that own 100% of the lease, (i.e. 1 owner is on the DOI with Revenue% at 1.00000000) will not have statements for these properties.
3.Select Print Option:
a.Detail - This is a detail report listing all the checks each Owner/Lease received. It prints one line per record,
b.Statements - summary detail by owner/property, or
c.Total - This option Prints a Supporting Schedule for DR 0456- Colorado Annual Reconciliation of Oil and Gas Severance Withholding (Pak Accounting currently, does not support this Form) The Supporting Schedule provides a monthly summary of severance taxes deducted for the tax year being reported
4.Select the Form Printing Option:
a.Print Office Copy- This option will print 1 copy of the DR-0021W for the company’s records.
b.Print Owner Copies- This option will print a page with the owner’s name and address plus 2 copies of the DR-0021W for each lease. This file WILL be very large.
c.Print Labels- prints labels for each owner that gets a DR-0021W. Use the Select Label Type drop down field to select label type.
5.Select to Print the Cover page either before the owners or after the owners.
6.Select Accounts: Click on the "Gross”, “Ad Valorem", and "Severance" button to bring up boxes that allow for the proper accounts to be selected.
a.Move the accounts wanted from the left column to the right column.
b.Once the accounts have all been defined, they will remain selected for future use.
7.View, Print, and/or Save the report as a file.
NOTES:
•The instruction page is located at the bottom of the name and address page.
•Any paid unclaimed monies will be reported under the State not the Owner.