OKPOLICY.ORG
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.
Presentation by Prof. Steve Agee to the House Appropriations and Budget Commitee on gross production tax exemptions, January 2009.
