Is the producer.required to withhold the taxes? Mine didn’t…Additionally,what is normal time frame to receive a D O? Am being payed but 13 months and no D O.
If you don’t live in Oklahoma, the operator/first purchaser, will withhold 5% for Oklahoma taxes. If you haven’t given them a W-9, you might not get paid or at the most, will get paid but have withholding of federal taxes up to 28% or more. Most DO’s are sent out with in 180 days after 1st production or close to that. To get a DO is not as important as them paying you the correct amount based on your decimal interest.
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Todd, The operator held some for 2023 but not nearly enough. Just got Jan this year and NO Oklahoma tax witheld. Have contacted them and waiting for reply. Thanks
Sounds like you should be happy. Why do you want Uncle Sam to hold money that is yours? Don’t expect operators to know your financial/tax situation.