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15-72-1001. Tax incentives — Increased volume by enhanced recovery.
Arkansas Code — all titles (historical 2020) · legal_authorities
15-72-1001. Tax incentives — Increased volume by enhanced recovery.
An oil producer who initiates a program for the enhanced recovery of crude oil pursuant to a plan first approved by the Oil and Gas Commission for purposes of recovering the incremental oil from a well or group of wells which results in the production of a volume of crude oil in excess of the volume produced prior to the commencement of the project shall be granted a fifty percent (50%) reduction in the severance tax which would otherwise be required to be paid, as provided for in § 26-58-111(6), on the total quantity of the incremental increase in crude oil produced as a result of the approved enhanced recovery project.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 15-72-1001
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:15-72-1001
Source file: gov.ar.code.title.15.odt
Pages: Not recorded – Not recorded
Passage SHA-256: e56ff3e45598907c13044aa09934cdcd99d2ba0987bcd29c2ec38b013e87b261
Source location: content.xml paragraph 24913
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15-72-1001. Tax incentives — Increased volume by enhanced recovery.
An oil producer who initiates a program for the enhanced recovery of crude oil pursuant to a plan first approved by the Oil and Gas Commission for purposes of recovering the incremental oil from a well or group of wells which results in the production of a volume of crude oil in excess of the volume produced prior to the commencement of the project shall be granted a fifty percent (50%) reduction in the severance tax which would otherwise be required to be paid, as provided for in § 26-58-111(6), on the total quantity of the incremental increase in crude oil produced as a result of the approved enhanced recovery project.
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Arkansas Code — all titles (historical 2020) · legal_authorities
26-58-111. Rate of tax — Definition.
The severance tax is to be predicated upon the quantity severed and at the following rates:
(1) On barite, bauxite, titanium ore, manganese and manganiferous ores, zinc ore, and cinnabar, fifteen cents (15¢) per ton of two thousand pounds (2,000 lbs.);
(2) On coal, lignite, and iron ore, two cents (2¢) per ton of two thousand pounds (2,000 lbs.);
(3) On gypsum not used for manufacturing within Arkansas into ultimate consumer's goods, or sold for manufacturing within Arkansas into ultimate consumer's goods, and chemical grade limestone, silica sand, and dimension stone, one and one-half cents (1½¢) per ton of two thousand pounds (2,000 lbs.);
(4) On crushed stone including, but not limited to, chert, granite, slate, novaculite, and limestone, and on construction sand, gravel, clay, chalk, shale, and marl, one cent (1¢) per ton of two thousand pounds (2,000 lbs.);
(5) On natural gas, the following percent of the market value of the natural gas severed within the State of Arkansas:
(A) On new discovery gas, as defined in § 26-58-101, the severance tax rate shall be one and one-half percent (1.5%) for the time period provided in § 26-58-127(a);
(B) On high-cost gas, as defined in § 26-58-101, the severance tax rate shall be one and one-half percent (1.5%) for the time periods provided in § 26-58-127(b);
(C) On marginal gas, as defined in § 26-58-101, the severance tax rate shall be one and one-quarter percent (1.25%); and
(D) On all natural gas that is not defined as new discovery gas, high-cost gas, or marginal gas, the severance tax rate shall be five percent (5%);
(6)(A) On oil, five percent (5%) of the market value at time and point of severance.
(B) However, whenever the production of oil from a well which is
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-58-111
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 26-58-111. This identifies an authority to review, not proof of applicability.