Section 45IAC6-1-5. Time and place of tax; reporting; payment; penalty

   (a) The tax is imposed at the time of sale or delivery from the place of production.

  (b) All purchasers or gatherers of petroleum products must report this tax at the time the petroleum products are transported from the place of production. This reporting is to be made on or before the last day of the month immediately following the preceding monthly period on forms prescribed by the department. At the time of the reporting, a remittance for the amount of tax is to be made to the department. The purchaser or petroleum products gatherer must report the severance of petroleum products from the land and the payment of the tax. The reports showing the amount and computation of the tax shall reflect the names and addresses of all owners or producers or interest holders participating in the production of petroleum products.

  (c) The department will make available Petroleum Severance Tax Return forms to be used in making reports of and payment of the petroleum severance tax. These returns shall show the total monthly amount of petroleum products severed from the land, the amount of tax thereupon, and the amounts paid to the various owners or producers as their interest may be.

  (d) Remittance must be made by check.

  (e) If a person responsible for paying this tax fails to do so in a timely fashion, that person shall be subject to standard penalties and interest under IC 6-8.1-10. (Department of State Revenue; PT II,Sec 5; filed Jul 18, 1947, 9:30 a.m.: Rules and Regs. 1948, p. 349; filed Nov 25, 2014, 3:44 p.m.: 20141224-IR-045140145FRA)