Is the producer required to withhold the taxes? Mine didn’t. Additionally, what is the normal time frame to receive a D O? Am being paid 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 within 180 days after first 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 January this year and NO Oklahoma tax withheld. 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.
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