Oklahoma Administrative Code
Title 710 - Oklahoma Tax Commission
Chapter 45 - Gross Production
Subchapter 9 - Exemptions and Exclusions
Part 23 - SECONDARY AND TERTIARY RECOVERY PROJECTS
Section 710:45-9-112 - Exemption

Universal Citation: OK Admin Code 710:45-9-112

Current through Vol. 42, No. 1, September 16, 2024

(a) All production which results from secondary and tertiary recovery projects shall be exempt from gross production tax for a period not to exceed five (5) years from the initial project start date or for a period ending upon the termination of the secondary and tertiary recovery process, whichever occurs first.

(b) A refund for secondary and tertiary recovery projects shall not be claimed until after the end of the fiscal year. A fiscal year shall be deemed to begin on July 1 of one calendar year and shall end on June 30 of the subsequent calendar year.

(c) Unless otherwise specified, no claim for refund shall be filed more than eighteen (18) months after the first day of the fiscal year in which the refund is first available. For example, secondary and tertiary recovery projects refund claims for fiscal year 2022 can be filed beginning July 1, 2023 until December 31, 2024.

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