The Minerals Management Service’s (MMS) Minerals Revenue Management (MRM) program is completing its eighth review of a state cooperative agreement with an examination of the state of Montana’s Department of Revenue, National Resources & Corporate Tax Division.
The state of Montana is one of 11 states with which MMS contracts to perform audits and compliance work on companies producing energy that occurs on Federal lands located within the state’s borders. MMS provides funding for the state to hire staff, procure office space, and conduct audits to ensure companies are properly reporting production and paying the correct amount in royalties.
The reviews include an examination of the state’s management of records, transfer of records to Federal Archives as appropriate, contract costs and the state’s progress in implementing its annual work plan, which details the state’s annual compliance and audit objectives.
To date this year, MMS has completed reviews for the states of Alaska, Colorado, Louisiana, New Mexico, Oklahoma, Texas and Utah. In addition to Montana, MMS will complete reviews of California, North Dakota and Wyoming before the end of the year.
Contact:
Patrick Etchart (303) 231-3162