29-1-127 - Reports as to mineral interests and payment of royalties and other returns. - Mississippi Statutes

§ 29-1-127. Reports as to mineral interests and payment of royalties and other returns.
 

(1)  It shall be the duty of any and all persons, firms, or corporations having any interest in the lands described in Section 29-1-125, or in minerals produced from said lands, when requested, to report to the State Tax Commission, on forms furnished and prescribed by it, full information with respect to the interest held, claimed, or owned and of any oil, gas, sulphur, or other mineral products which have been produced or transported by such person, firm, or corporation, and all pertinent or necessary information with respect thereto. Such reports shall be made regardless of the kind of title or interest held, whether as tenant, lessee, producer, purchaser, or transporter. All parties or persons shall pay the State Tax Commission, as agent of the state, any royalties or other returns due the state by reason of its ownership of lands or any interest therein, and shall make full and complete disclosure of all pertinent facts with respect to such matters. 

(2)  Any person responsible for the payment of royalties or other returns and the distribution of royalties or other returns shall make a report on or before the tenth day of each month, on forms prescribed and furnished by the commission, showing for each oil, gas, or sulphur well or any gravel pit or quarry the total quantity of oil, gas, or other minerals produced in the preceding month, the value in money, the name and address of each person receiving or entitled to receive royalties or other returns, the name and address of the person or persons receiving or purchasing the output of the well, pit, or quarry, and other information required by the commission. The report shall show the quantity and value in money of the product which is owned by the state as owner of the title to the land, and shall remit with the report the total amount due the state. Remittance may be by check or bank draft, but this shall not be a discharge of the debt until the state has received the amount in legal tender. 
 

Sources: Codes, 1942, § 4078-02; Laws,  1950, ch. 560, §§ 2, 3.