Previewing/Printing the Cost Recovery Fee Worksheet

The Cost Recovery Fee Worksheet is a report designed for you so that you can see all of the totals for each well for both severance taxes and the Cost Recovery Fee.

With the desired criteria on the Ohio Tax Reporting window, mark the "Cost Recovery Fee Worksheet." This should be previewed at the end of the quarter when you are ready to submit the reports to the state. Do not mark the option to "Create adjusting entries…" the first time you preview the report. You should look at the report first to review the amounts and determing if any adjustments are needed.

Totals for each well are listed at the top. The first total at the bottom indicates the minimum amount needs paid. The second line shows the total taxes collected for the quarter. If the difference is a negative amount then no adjustment needs to be made. If the difference is a positive amount, then an adjustment will need to be made so that the minimum charge is paid. The last line shows the adjustment amount needed for each well. The adjustment for each well is the difference divided by the number of wells. It will be split evenly among all wells unless you also marked the option to "Base adjustments only on wells that didn't meed the required minimum". If that option is marked, then the difference is allocated to proportionately to only the wells that didn't meet the minimum.