Mineral Production Withholding
|Filing due:||Last day of following month|
|Payment frequency:||Varies; see Utah Withholding Taxes|
|Forms:||TC-941, TC-941R (this is only for mineral production withholding, not income tax withholding), TC-675R|
|See also:||Utah Withholding Taxes|
You must withhold Utah income taxes on any gross production payments to working interests, royalty interest, or overriding royalty owners for mineral production or extraction in Utah.
Payers report and remit the withholdings to the Tax Commission and issue the payee a TC-675R reporting the income and the amount withheld. Income recipients (or final recipients if the income is passed through a pass-through entity) may claim a credit on their Utah income tax returns for the amount of taxes previously withheld.