MS HB977

Amends Mississippi Code sections 27-25-519 and 27-25-717 to change the oil and gas severance tax payment deadline from the twenty-fifth day of the month following tax accrual to the twenty-fifth day of the second month following tax accrual.

Requires taxpayers to submit monthly returns showing tax liability for the month in which the tax accrued, along with payment remittance, by the twenty-fifth day of the second month.

Updates references from "tax commission" to "Department of Revenue" in provisions allowing information sharing between the Department of Revenue and State Oil and Gas Board regarding production data.

Maintains existing administrative penalties, interest, and compliance requirements under the Mississippi Sales Tax Law as they apply to oil and gas severance taxpayers.

Effective date is January 1, 2021.