Create WV Producer/Operator Return

All West Virginia Oil and Gas producers and operators are required to file a tax return for all wells in which they are the producer/operator. The tax return needs to be filed with the State Tax Department, Property Tax Division and duplicate copies can be send to the county assessors' office.

The first step to creating the WV Producer/Operator return is to create the file. This calculates all of the totals for the year and stores them within this reporting module.

Base File On:
Choose to base the report on the Accounting Year, Production Year or Accounting Date Range. Typically the file should be created based on the Accounting Year.

Year:
Enter the year that you would like the report built for.

Include Only Active Wells:
All wells will be reported on by default. Marking this option will exclude wells that do not have a status of "Active" specified on the Well Info tab of the well information window.

Include Wells With No Production During The Year:
Wells with no production during the year will be included on the report by default. Unmarking this option will exclude them from the processing.

Report Working Interest Under Producer Name:
By default, one line will print on the Schedule 3 for all working interest owners combined. The Name used will be "Working Interest". When this option is marked the "Company Name" from the Company Information window will be used instead of "Working Interest"

Report Overriding Royalty Under Their Own Name:
By default, one line will print on the Schedule 3 for all Overriding Royalty interests combined. The Name used will be "Overriding Royalty". When this option is marked the overriding royalty amount will be reported under the actual owner's name instead of "Overriding Royalty". If more than one Overriding Royalty owner is in the well then it will print each owner on a separate line.

Build File:
Click on the Build File button to calculate the totals based on the options specified above. The amounts will be calculated and stored within this reporting module.