2015 Oklahoma Statutes
Title 17. Corporation Commission
§17-514. Taxation of unit production or sale proceeds.
Neither the unit production nor proceeds from the sale thereof shall be treated, regarded or taxed as income or profits to the unit. Instead, such receipts shall be the income of the several persons to whom same are payable under the plan of unitization. To the extent the unit may receive or disburse any receipts it shall only do so as a common administrative agent of the persons to whom the same are payable.
Added by Laws 1990, c. 255, § 15, eff. Sept. 1, 1990.
Disclaimer: These codes may not be the most recent version. Oklahoma may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
