Part I.
Comptroller of Public Accounts
Chapter 3.
Tax Administration
Subchapter C. Crude Oil Production Tax
34 TAC §3.35
The Comptroller of Public Accounts proposes an amendment
to §3.35, concerning reporting requirements for producers and purchasers.
This section is being amended pursuant to prior legislation and to clarify
reporting requirements. Subsection (h) is being amended to clarify reporting
requirements for purchasers. Subsection (k) is being amended to change reporting
requirements from county level reporting to lease level reporting. A new subsection
(k)(1)(C) is being added to clarify reporting requirements for oil where the
producer and purchaser are the same entity. Subsection (k)(3) and (k)(4) are
being amended to correct references to information to be included on the Crude
Oil Special Report and records to be maintained by operators or producers
not required to file reports.
James LeBas, chief revenue estimator, has determined that for the first
five-year period the amendment will be in effect there will be no significant
revenue impact on the state or local government.
Mr. LeBas also has determined that for each year of the first five years
the amendment is in effect the public benefit anticipated as a result of adopting
the amendment will be in providing more detailed reporting of the Oil Production
Tax. This amendment is adopted under the Tax Code, Title 2, and does not require
a statement of fiscal implications for small businesses. There is no significant
anticipated economic cost to individuals who are required to comply with the
proposed amendment.
Comments on the proposal may be submitted to Bryant K. Lomax, Manager,
Tax Policy Division, P.O. Box 13528, Austin, Texas 78711.
This amendment is proposed under the Tax Code, §111.002,
which provides the comptroller with the authority to prescribe, adopt, and
enforce rules relating to the administration and enforcement of the provisions
of the Tax Code, Title 2.
The amendment implements the Tax Code, §202.201 and §202.202.
§3.35.Reporting Requirements for Producers and Purchasers.
(a)-(b)
(No change.)
(c)
Any oil used, lost, stolen, or otherwise unaccounted for
after it has been produced and measured must be reported, and the tax must
be paid by the operator on the
Crude Oil Special Tax Report
[
(d)-(g)
(No change.)
(h)
All first purchasers of crude oil must file the Crude Oil
Purchaser's Monthly Tax Report[
(i)
All operators or producers authorized to remit and responsible
for remitting tax, other than
the operators authorized
[
(j)
(No change.)
(k)
Beginning with the January 1999 production period,
crude oil production will be reported at the lease level on all crude oil
reports.
The following information must be reported on the crude oil
reports:
(1)
the Crude Oil Purchaser's Monthly Tax Report:
(A)
the name and taxpayer number of each operator or producer
from whom crude oil was purchased during the month;
and
(B)
the volume and value of oil purchased from each operator
or producer
on each lease
[
(C)
oil produced and purchased by the same
taxpayer must be reported only on the Crude Oil Producer's Monthly Tax Report.
(2)
the Crude Oil Producer's Monthly Tax Report:
(A)
the name and taxpayer number of the purchaser of oil being
sold at the lease;
and
(B)
the volume and value of oil used, lost, stolen
,
or removed from leases by the operator or producer
on each lease
[
(3)
the Crude Oil Special Tax Report. The volume
and value of all oil lost, used, stolen, or otherwise unaccounted for
on each lease
[
(l)
[
(1)
[
(2)
[
This agency hereby certifies that the proposal has been
reviewed by legal counsel and found to be within the agency's legal authority
to adopt.
Filed with the Office of the Secretary of State on April
26, 1999.
TRD-9902444
Martin Cherry
Special Counsel
Comptroller of Public Accounts
Earliest possible date of adoption: June 6, 1999
For further information, please call: (512) 463-4062
Subchapter I. Refunds, Termination
34 TAC §7.81
The Comptroller of Public Accounts proposes an amendment
to §7.81, concerning the administration of the prepaid higher education
tuition program.
These changes are proposed to conform certain provisions requested by the
Internal Revenue Service in connection with the Program's application for
a private letter ruling on the Program's tax status.
James LeBas, chief revenue estimator, has determined that for the first
five-year period the amendment will be in effect there will be no significant
revenue impact on the state or local government.
Mr. LeBas also has determined that for each year of the first five years
the amendment is in effect the public benefit anticipated as a result of adopting
the amendment will be in refunds to purchasers in the event that a prepaid
tuition contract is terminated after the beneficiary reaches age 18. This
amendment is adopted under the Tax Code, Title 2, and does not require a statement
of fiscal implications for small businesses. There is no significant anticipated
economic cost to individuals who are required to comply with the proposed
amendment.
Comments on the proposal may be submitted to Aaron Demerson, Manager, Texas
Tomorrow Fund, P.O. Box 13407, Austin, Texas 78711-3407.
The amended rule is proposed under the Education Code, §54.618,
which gives the Prepaid Higher Education Tuition Board the authority to adopt
rules to implement Subchapter F, Chapter 54, Education Code.
The amendment implements Education Code, §54.632.
§7.81.Refunds.
(a)-(c)
(No change.)
(d)
Examples of circumstances under these rules in which refunds
may be made include, but are not limited to, the following.
(1)-(5)
(No change.)
(6)
If a prepaid tuition contract is terminated under
§7.82(c) of this title (relating to Termination of Prepaid Tuition Contract),
such contract may be refunded in an amount equal to
the present lump
sum actuarial value, as of the date of termination, of the average amount
of tuition or the estimated amount of private tuition and required fees of
junior college plans, junior/senior college plans or the estimated amount
of private tuition and required fees for the private college plan, less the
required penalty under §7.3(g) of this title (relating to Tax Exempt
Status Requirements); a cancellation fee; and any other applicable fee.
[
[
the lowest amount of tuition
and required fees among all institutions under the plan selected, but if a
private college plan, such tuition and required fee amount shall not be less
than the amount of payments made under the plan for tuition and required fees,
less a cancellation fee and any other applicable fee; or ]
[
the amount of payments made
under the plan for tuition and required fees; plus the average annual earnings
rate on the fund, less 3.0%, but not to exceed 5.0% times the accumulated
payments made under the contract as of December 31, of each year; less a cancellation
fee and any other applicable fee. Any such refund may be made in semiannual
installments to the purchaser of the prepaid tuition contract; ]
[
In
[
(7)-(8)
(No change.)
This agency hereby certifies that the proposal has been
reviewed by legal counsel and found to be within the agency's legal authority
to adopt.
Filed with the Office of the Secretary of State on April
26, 1999.
TRD-9902447
Martin Cherry
Special Counsel
Comptroller of Public Accounts
Earliest possible date of adoption: June 6, 1999
For further information, please call: (512) 463-4062
Chapter 73.
Benefits
crude oil special tax report
], unless the operator is required to file
the
Crude Oil Producer's Monthly Tax Report
[
crude oil producer's
monthly tax report
].
, if not filing a Crude Oil Producer's
Monthly Tax Report
].
tax
due
] under subsection (c) of this section, must file the Crude Oil Producer's
Monthly Tax Report.
in each county
];
except
in each county
];
and
in each county
] (to be used by producers who
are not required to file reports under subsection
(i)
[
(f)
] of this section)
.
[
;
]
(4)
] [
crude oil operators
or producers.
] Crude oil operators or producers who are not required
to file reports under [
subsection (f) of
] this section must keep
the following records:
(A)
] the name and taxpayer number
of each purchaser taking delivery of oil at the lease from the operator or
producer during the previous calendar year;
and
(B)
] the total volume and
value of the oil delivered to each purchaser.
Chapter 7.
Prepaid Higher Education Tuition Program
the lesser of:
]
(A)
(B)
(C)
]
however, in
] no
case shall a refund be made in an amount less than the total amount paid by
the purchaser under the contract less any applicable administrative fees or
amounts previously distributed.
Part IV.
Employees Retirement System of Texas