Commissioner Craddick asks Comptroller Hegar to Issue Delay on Severance Tax CollectionsApril 06, 2020
AUSTIN – Texas Railroad Commissioner Christi Craddick sent a letter to Comptroller Glenn Hegar requesting he extend the monthly deadline to file crude oil and natural gas production taxes, as he has done with the state’s franchise tax deadline.
In the letter, Commissioner Craddick writes: “I ask you to also consider extending the monthly deadline to file crude oil and natural gas production taxes for three to six months to weather this storm. These taxes, like others the state imposes, have been deducted from mineral payments and held in trust to be remitted to your office. Other oil producing states have taken similar measures in the past week. A delay in filings may make the difference for companies giving them time and the needed flexibility to get through this crisis.”
Commissioner Craddick also asked that Comptroller Hegar review appraisal standards for real property interest in oil in place to determine if guidance can be made from his office to reduce the high likelihood of massive numbers of mineral appraisal protests.
“These are unprecedented times and if we can give Texas businesses time and flexibility to weather this storm, policymakers should employ every avenue to do it,” said Commissioner Craddick.
About the Railroad Commission:
Our mission is to serve Texas by our stewardship of natural resources and the environment, our concern for personal and community safety, and our support of enhanced development and economic vitality for the benefit of Texans. The Commission has a long and proud history of service to both Texas and to the nation, including almost 100 years regulating the oil and gas industry. The Commission also has jurisdiction over alternative fuels safety, natural gas utilities, surface mining and intrastate pipelines. Established in 1891, the Railroad Commission of Texas is the oldest regulatory agency in the state. To learn more, please visit http://www.rrc.texas.gov/about-us/.