We pride ourselves in our ability to properly report monthly Severance taxes. While Severance Tax reporting may seem easily reported through your current accounting system, it is important to note there are several statutes that could be in violation due to improper calculations. You could possibly be over reporting your liability or worse under reporting. Creel can provide a custom tailored approach to Severance Tax reporting with our extensive knowledge of industry reporting standards. We are confident that our clients always meet and exceed the requirements set out by the state of Louisiana. On a monthly basis, we will prepare all necessary reports to be filed with the state including:

  • O1-D
  • G1-D
  • O3
  • O5
  • G3
  • G5

During development of our clients’ solution, we look not only at the big picture of a production facility such as location within the field, but also at location relative to satellite wells and sales pipelines. In order to properly prepare a client’s Severance Tax reports, we conduct a review of all production facilities and allocations. This includes reviewing and monitoring third-party statements to ensure that Severance Taxes are properly calculated each month. 

In the world of severance tax reporting, one size does NOT fit all.  With our extensive industry wide knowledge, we are able to avoid known pitfalls in the reporting process and payment calculation. As with our Production Accounting and Royalty Reporting services, our solution and data is compatible with any accounting software on the market while completing timely prior period adjustments when utilizing all of our services.

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