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26-58-302. Additional levy for benefit of Arkansas Museum of Natural Resources Fund.
Arkansas Code — all titles (historical 2020) · legal_authorities
26-58-302. Additional levy for benefit of Arkansas Museum of Natural Resources Fund.
(a)(1) There is levied a tax of two cents (2¢) per barrel of oil produced in this state.
(2) The taxes shall be reported and paid monthly to the Secretary of the Department of Finance and Administration by each producer of oil in such manner and upon such forms as the secretary shall prescribe.
(b)(1) There is levied a tax of ten cents (10¢) per one thousand (1,000) barrels on all brine produced in this state for the purpose of bromine extraction.
(2) The tax shall be reported and paid monthly to the secretary by each producer of brine and oil in such manner and upon such forms as the secretary may prescribe.
(c)(1) Funds collected by the secretary under this section are classified as cash fund receipts, and the full amount of the funds shall be deposited into one (1) or more accounts in one (1) or more banks in this state, which account or accounts shall be designated the “Arkansas Museum of Natural Resources Fund”.
(2) All funds in such accounts shall be used exclusively for the maintenance, operation, and construction of the Arkansas Museum of Natural Resources.
(d) The taxes levied by this section shall be in addition to any and all other fees and taxes levied on oil and brine produced in this state.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 26-58-302
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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Record provenance
Stable record: arkansas_code:legal_authorities:26-58-302
Source file: gov.ar.code.title.26.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 4f9a109752e55b8bc79e37a6e777b91924047909f67acaa08e6502beee658c60
Source location: content.xml paragraph 30149
Stored source content
26-58-302. Additional levy for benefit of Arkansas Museum of Natural Resources Fund.
(a)(1) There is levied a tax of two cents (2¢) per barrel of oil produced in this state.
(2) The taxes shall be reported and paid monthly to the Secretary of the Department of Finance and Administration by each producer of oil in such manner and upon such forms as the secretary shall prescribe.
(b)(1) There is levied a tax of ten cents (10¢) per one thousand (1,000) barrels on all brine produced in this state for the purpose of bromine extraction.
(2) The tax shall be reported and paid monthly to the secretary by each producer of brine and oil in such manner and upon such forms as the secretary may prescribe.
(c)(1) Funds collected by the secretary under this section are classified as cash fund receipts, and the full amount of the funds shall be deposited into one (1) or more accounts in one (1) or more banks in this state, which account or accounts shall be designated the “Arkansas Museum of Natural Resources Fund”.
(2) All funds in such accounts shall be used exclusively for the maintenance, operation, and construction of the Arkansas Museum of Natural Resources.
(d) The taxes levied by this section shall be in addition to any and all other fees and taxes levied on oil and brine produced in this state.
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