AR HB1160

Allows natural resource and timber producers with average monthly severance tax liability not exceeding $100 in the prior fiscal year (July 1 - June 30) to file quarterly reports instead of monthly, with payments due January 25, April 25, July 25, and October 25.

Allows producers with average monthly severance tax liability not exceeding $25 to file annual reports instead of monthly, with payments due by January 25 each year for the preceding calendar year.

Applies the same quarterly ($100) and annual ($25) reporting thresholds to natural gas producers, with different quarterly due dates (February 25, May 25, August 25, November 25) and annual deadline of February 25.

Applies the same quarterly and annual reporting options to purchasers of natural resources and natural gas, with quarterly deadlines of February 25, May 25, August 25, and November 25, and annual deadline of February 25.

Becomes effective January 1, 2012.