Idaho Quarterly Idaho Oil and Gas Production Tax Statement

Quarterly Idaho Oil and Gas Production Tax Statement
Form 29, Oil and Gas Production Tax Statement and Instructions 2023
Form 29
Oil and Gas Production Tax Statement (Monthly)
Tax on oil and gas produced in Idaho for the month ending
(Month)
Name of producer

(Year)
Social Security number or EIN

Business mailing address

City

State

ZIP Code

1. Sales value of oil produced (from page 2) .................................................................................................................................. 1
2. Sales value of gas (including condensate) produced (from page 2) ..........................................................................................

2

3. Total sales of oil and gas produced. Add lines 1 and 2 ..............................................................................................................

3

4. Adjustments. See instructions ....................................................................................................................................................

4

5. Total subject to tax. Subtract line 4 from line 3 ........................................................................................................................... 5
6. Tax due. Multiply line 5 by 2.5% .................................................................................................................................................

6

7. Interest from due date ................................................................................................................................................................

7

8. Penalty .......................................................................................................................................................................................

8

9. Total due. Add lines 6, 7, and 8 ..................................................................................................................................................

9

Signature and Verification
Under penalties of perjury, I declare that to the best of my knowledge and belief this return is true, correct, and complete.

Sign
Here

Signature of officer/owner

Date

Title

Phone number

Paid preparer’s signature

Preparer’s EIN, SSN or PTIN

Preparer’s address and phone number

File this statement with the Idaho State Tax Commission by the 20th of the month following the end of the reporting month. Enclose payment of the total due.
Mail to: Idaho State Tax Commission, PO Box 36, Boise, ID 83722-0410
EFO00245

09-14-2023

Page 1 of 2

Form 29

Well Number
(API number)

EFO00245

09-14-2023

Well Name

Field Location
(Sec./Twp./Rng.)

Well Location
(County)

Product
Code

Volume Oil
Produced

(continued)

Volume Gas
Sales Value
Produced

Page 2 of 2

Form 29 — Instructions
Oil and Gas Production Tax Statement (Monthly)
Use Form 29 to report the tax on oil and gas produced
in Idaho. We tax oil and gas at the rate of 2.5% of gross
income. Gross income means the amount realized
by the producer for the sale of oil or gas, whether the
sale occurs at the wellhead or after transportation
of the product, without deducting transportation,
manufacturing, and processing costs.
The tax is paid monthly and the form is due by the 20th
day of the month following the end of the reporting
month.

Specific Instructions
Name of producer and Social Security number or EIN
Enter the producer’s name and corresponding Social Security
number or federal Employer Identification Number (EIN).
Address
Enter the producer’s address, city, state, and ZIP Code.
Line 3. Total sales of oil and gas produced
Enter the total sales of oil and gas produced, saved
and sold, or transported from the premises in Idaho
during this reporting period and any sales not reported
in a prior period. If sales between related parties were
below market rates, include the amount a sale of
comparable type, quantity, and quality would generate
if the sale had been an arms-length transaction, unless
you weren’t legally able to sell to such a buyer.
Line 4. Adjustments
If you produced oil and gas that are exempt from tax,
include an explanation.
The following are exempt from tax:
•	 Interests in oil and gas or their proceeds owned by
the United States, state of Idaho, and their political
subdivisions
•	 Interests in oil and gas or their proceeds owned
by any Indian or Indian tribe if the oil and gas or
proceeds were produced from lands subject to the
supervision of the United States
•	 Oil and gas used in production operations or for
repressuring or recycling purposes
Line 5. Total subject to tax
Subtract line 4 from line 3 and enter on this line.

Line 8. Penalty
If the producer files a return after the due date or doesn’t
pay the required amount by the due date, we may charge
a penalty on the tax due as follows:
•	 0.5% per month or a fraction of a month to a
maximum of 25% for not paying the tax due (if
return is filed)
•	 5% per month or fraction of a month to a maximum
of 25% for not filing the return on time
•	 5% for negligence or disregard of rules
•	 10% for substantial understatement of tax
•	 50% for filing a false or fraudulent return
The minimum penalty is $10.
Line 9. Total due
Add lines 6, 7, and 8 and enter on this line.

Specific Instructions for Page 2
Well number
Enter the American Petroleum Institute (API) number for
the well.
Well name
Enter the name assigned to the well.
Field location
Enter the section, township, and range information for the
field location of the well.
Well location (county)
Enter the county where the well is located.
Product code
Enter the product code for the product.
C = Condensate
G = Nonprocessed gas
O = Crude oil
P = Natural gas plant liquids
Res = Pipeline quality natural gas
Volume oil produced
Enter the volume of oil produced in barrels.
Volume gas produced
Enter the volume of gas produced in thousand cubic feet.
Sales value
Enter the sales value of the product.

Line 6. Tax due
Multiply line 5 by 2.5% and enter on this line.
Line 7. Interest from due date
We charge interest on the amount of tax due, line 6,
from the original due date until paid. The rate for 2024
is 6%.

Contact us:

In the Boise area: (208) 334-7660 | Toll free: (800) 972-7660
Hearing impaired (TDD) (800) 377-3529
tax.idaho.gov/contact
EIN00083

09-14-2023