42.17.601    ADVANCE PAYMENTS AND FURTHER DISTRIBUTIONS

(1) Advance mineral royalty payments that relate to, refer to, or concern production are subject to the mineral royalty tax withholding requirements.

(2) Each remitter who disburses funds that are owed to any person owning a royalty interest, overriding royalty interest, production payment, or any other nonworking interest in minerals produced in this state, is subject to the withholding requirement of 15-30-2538, MCA.

(3) If a mineral is taken in-kind by a royalty owner, the take-in-kind owner must forward 6 percent of the net value of the mineral that was taken in-kind to the department unless they are exempt from withholding under 15-30-2539 or 15-31-102, MCA.

(4) If you are a remitter and you are providing accounting services, and these accounting services include fulfilling the requirements of 15-30-2541, MCA, for more than one producer, you must remit separate withholding payments and submit a separate Form RW-3, Montana Mineral Royalty Withholding Tax Reconciliation Return, for each producer.

 

 

 

History: 15-30-2547, MCA; IMP, 15-30-2538, 15-30-2539, 15-30-2541, 15-31-102, MCA; NEW, 2007 MAR p. 2151, Eff. 12/21/07; AMD, 2010 MAR p. 177, Eff. 1/15/10; AMD, 2012 MAR p. 2640, Eff. 12/21/12.