Instructions for Form SEV-401 West Virginia Annual Severance Tax Return - West Virginia

Form SEV-401 West Virginia Severance Tax Annual Return - West Virginia

This document contains official instructions for Form SEV-401 , West Virginia Annual Severance Tax Return - a form released and collected by the West Virginia State Tax Department. An up-to-date fillable Form SEV-401 is available for download through this link.

FAQ

Q: What is Form SEV-401?A: Form SEV-401 is the West Virginia Annual Severance Tax Return.

Q: Who needs to file Form SEV-401?A: Anyone who is engaged in the severance of natural resources in West Virginia must file Form SEV-401.

Q: What is the purpose of Form SEV-401?A: The purpose of Form SEV-401 is to report and remit the annual severance tax on natural resources extracted or produced in West Virginia.

Q: When is Form SEV-401 due?A: Form SEV-401 is due on or before the last day of the month following the end of the calendar year.

Q: What information is required on Form SEV-401?A: Form SEV-401 requires information such as the name and address of the taxpayer, the type of natural resource severed, the total quantity severed, and the amount of tax due.

Q: Are there any penalties for late filing of Form SEV-401?A: Yes, there are penalties for late filing of Form SEV-401, including interest charges and potential legal action.

Q: Is there any additional documentation required with Form SEV-401?A: Depending on the nature of the severance activity, additional documentation such as production reports or sales records may be required.