Okla. Stat. tit. 68, § 68-1003
This is the official text of Okla. Stat. tit. 68, § 68-1003, part of Oklahoma’s Stat. tit. 68, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 68,." Browse the sections below, each linked to its official government source.
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Tax on oil recovered or from unknown sources
Official statutory text
A. It shall be the duty of the Oklahoma Tax Commission to
collect, in addition to the gross production tax, twelve and one-
half percent (12 1/2%) of the gross value of all oil reported to the
Tax Commission as recovered from streams, lakes, ponds, ravines and
other natural depressions to which oil shall have escaped or therein
was found and twelve and one-half percent (12 1/2%) of the gross
value of all oil which is reported to the Tax Commission and which
report does not disclose the actual source of the oil. In the event
the rightful owner or owners of the royalty interest therein provide
satisfactory proof of mineral ownership to the Tax Commission within
twelve (12) months of when the tax payment was received by the Tax
Commission, such royalty interest owners shall be paid their proper
interest or interests. Otherwise, the Tax Commission shall
distribute such sum as provided by law for the distribution of gross
production taxes.
B. For purposes of this section, "actual source" shall be the
well or wells and particular leasehold from which the oil was
produced.
C. The operators of salt water disposal facilities shall be
required to pay to the Tax Commission the fee of twelve and one-half
percent (12 1/2%) as required by this section on the amount of oil
recovered in excess of two percent (2%) of the volume of water
handled.
collect, in addition to the gross production tax, twelve and one-
half percent (12 1/2%) of the gross value of all oil reported to the
Tax Commission as recovered from streams, lakes, ponds, ravines and
other natural depressions to which oil shall have escaped or therein
was found and twelve and one-half percent (12 1/2%) of the gross
value of all oil which is reported to the Tax Commission and which
report does not disclose the actual source of the oil. In the event
the rightful owner or owners of the royalty interest therein provide
satisfactory proof of mineral ownership to the Tax Commission within
twelve (12) months of when the tax payment was received by the Tax
Commission, such royalty interest owners shall be paid their proper
interest or interests. Otherwise, the Tax Commission shall
distribute such sum as provided by law for the distribution of gross
production taxes.
B. For purposes of this section, "actual source" shall be the
well or wells and particular leasehold from which the oil was
produced.
C. The operators of salt water disposal facilities shall be
required to pay to the Tax Commission the fee of twelve and one-half
percent (12 1/2%) as required by this section on the amount of oil
recovered in excess of two percent (2%) of the volume of water
handled.
Status: in_force · Read it on the official government site
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