Oregon Statutes 324.140 – Penalty for delinquent reports; report of claimed exempt royalties
(1) Reports required under ORS § 324.120 and 324.130 from either the purchaser or producer, as the case may be, shall be delinquent after the last day fixed for filing, and every person required to file a report shall be subject to penalty of $25 per day for each property upon which the person fails or refuses to file a report. The penalties prescribed by this section shall be for failure to file reports and shall be in addition to the interest and penalty imposed for delinquent tax, and shall likewise constitute a lien against the assets of the person failing or refusing to file a report. The penalties prescribed under this section shall be collected in the same manner as gross production taxes and shall be deposited in the suspense account referred to in ORS § 324.340.
Terms Used In Oregon Statutes 324.140
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Department: means the Department of Revenue. See Oregon Statutes 324.050
- Gross production: means the total volume of oil or gas extracted from a well, including oil or gas extracted but not sold. See Oregon Statutes 324.050
- Lien: A claim against real or personal property in satisfaction of a debt.
- Person: includes partnership, corporation, association, fiduciary, trustee and any combination of individuals. See Oregon Statutes 324.050
(2) When royalty is claimed to be exempt from taxation by law, the facts on which claims of exemption are based and other information as the Department of Revenue may require shall be furnished in the report. [1981 c.889 § 8; 1983 c.740 § 98]