- Privilege Tax On Production: Title 40, Chapter 20, Article 1, Sections 1-23
- Conservation and Regulation of Production: Title 9, Chapter 17, Article 1, Sections 25-35
- County Oil and Gas Severance Tax Trust Funds: Title 40, Chapter 20, Article 3, Section 50
- Oil and gas severance tax payments and returns are due on or before the 15th day of the second month following the month of production.
Oil and Gas Production Tax
Title 9, Chapter 17, Article 1, Sections 25-35
| Tax Rate | Description |
|---|---|
| 1% | Production from wells permitted from July 1, 1996, through June 30, 2002, for five years from first production. |
| 1.66% | Gross proceeds from offshore production from depths greater than 8,000 feet below mean sea level. |
| 2% | All other production. |
Oil and Gas Reduced Privilege Tax
Title 40, Chapter 20 Article 1, Section 2(a)(6)
| Tax Rate | Description |
|---|---|
| 2% | Wells normally qualifying for the 4% privilege tax rate and permitted from July 1, 1996, through July 1, 2002, for five years from first production. |
| 3% | Wells normally qualifying for the 6% privilege tax rate and permitted from July 1, 1996, through July 1, 2002, for five years from first production. |
Oil and Gas Privilege Tax
Title 40, Chapter 20 Article 1 & 1a, Sections 2 & 21, Respectively
| Tax Rate | Description |
|---|---|
| 4% |
|
| 3.65% | Gross proceeds from offshore production from depths greater than 8,000 feet below mean sea level. |
| 6% |
|
| 8% | All other taxable production. |