A new fact sheet from Oklahoma Policy Institute looks at Oklahoma's gross production tax and takes a specific look at the tax exemptions that are offered for different forms of oil and gas production. Over the past five years, producers have claimed $339 million in exemptions, or rebates, from the gross production tax, with almost three-quarters of the rebates claimed for deep well drilling and horizontally drilled wells. Most gross production tax exemptions are set to expire on June 30, 2009; the Legislature is considering bills that would extend the exemptions through 2012.

Click here to download the fact sheet or here for the accompanying press release.