Tax Credit

Each operator desiring to claim a tax credit for workover or recompletion work performed must submit Form 15 within 90 days after the workover or recompletion work is completed. Upon determination and notification by the division that the described work qualifies for a tax credit, the operator may claim the tax credit on reports submitted to the Utah State Tax Commission during the third quarter after completion of the work. 

NOTIFICATION REQUIREMENTS
In accordance with the Utah Oil and Gas Conservation General Rules, a notice of intent to perform the described workover or recompletion must be submitted to and be approved by the division prior to performing the work. A subsequent report giving detail of the actual work performed must be submitted within 30 days of the completion of the workover or recompletion operations. The intent and subsequent reports shall be submitted on Form 9, Sundry Notices and Reports on Wells.