Tag: gross production tax

The incredible disappearing gross production tax

With all the attention last legislative session on the failed attempt to do away with the state personal income tax, a potentially bigger story seems to have escaped most people’s notice: the effective disappearance of the gross production tax. This… Read more [More...]

Over a Barrel: How we ended up on the hook to oil and gas producers to the tune of $294 million

NOTE: This week, Oklahomans learned the state was on the hook to pay oil and gas producers $294 million over the next three years in deferred tax rebates for horizontal and deep well drilling in 2010 and 2011, an amount… Read more [More...]

From the Archives: I don't need it but I'll take it – Revisiting oil and gas tax breaks

Note: This afternoon, the Task Force for the Study of State Tax Credits and Economic Incentives will be examining gross production tax exemptions. This blog post on the subject initially ran in March 2011. A recent news report examining proposals… Read more [More...]

Oil strikes back

When the Board of Equalization met last week and certified more revenue for the upcoming fiscal year, there was one word on everyone’s mind: Oil. Of the total $106 million increase in the February estimate compared to the Board’s initial… Read more [More...]

Time to cap the tax credit well?

OK Policy has released a new fact sheet looking at Oklahoma’s gross production taxes on oil and gas,which takes a special look at the tax exemptions offered for different forms of production. Over the past five years, producers have claimed… Read more [More...]