Records Retention

18.1. Records Required. -- Every taxpayer liable for reporting or paying the severance taxes shall keep such records, receipts, invoices, and other pertinent papers in such forms as the Tax Commissioner may require.

18.2. Record Retention. -- Every taxpayer shall keep such records for not less than three years after the annual severance tax return is filed, unless the Tax Commissioner in writing authorizes their earlier destruction. An extension of time for making an assessment or claim for refund shall automatically extend the time period for keeping the records for all years subject to audit covered in the agreement for extension of time.