{"data":{"id":"us-ar/ark.-code-ann.-15-72-706","jurisdiction":"us-ar","citation":"Ark. Code Ann. § 15-72-706","heading":"Credit against severance tax","body":"From and after the effective date of the certificate, the person shall be entitled to receive from the Revenue Division of the Department of Finance and Administration a credit against the taxes thereafter otherwise due by the person on account of oil produced from the pool from wells located on any land as to which the person was the owner, and so designated, in the application filed with the Oil and Gas Commission, as follows:\n\n(1) Seventy-five percent (75%) of the severance tax otherwise due during a period of five (5) years from the date of the certificate if the pool is located above the base of the deepest producing oil formation in the county where the discovery well is located at the date of the application;\n\n(2) Seventy-five percent (75%) of the severance tax otherwise due during a period of ten (10) years from the date of the certificate if the pool is located below the base of the deepest producing oil formation in the county or if there was no oil production in the county at the date of the application; and\n\n(3) The certificate shall designate whether the person named therein is entitled thereunder to the benefits of subdivisions (1) and (2) of this section, and the name of the field and pool covered thereby.","path":["AR Code","Title 15","Chapter 72","Subchapter 7"],"source_url":"https://oss-data-us.vaquill.ai/v2026.08/us_ar_statutes.parquet","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-17","retrieved_at":"2026-09-17T21:35:43Z","sha256":"5a419d0bac1a0e3bd8b8874cb638ce778e56de2f82905e69f298b0905838b9f2","source_id":"us-ar","stale":false,"prev":"us-ar/ark.-code-ann.-15-72-705","next":"us-ar/ark.-code-ann.-15-72-801","notices":[{"id":"open-us-law","title":"Open US Law compilation","text":"Compilation CC BY 4.0, Open US Law (Vaquill AI). GroundRules uses only the releases published under CC BY 4.0: from v2026.09 the compilation is licensed CC BY-NC 4.0, and GroundRules does not use those releases. Each affected row names its release in its vintage label. GroundRules parsed and filtered the compilation to retain enacted text.","url":"https://huggingface.co/datasets/vaquill/open-us-law","license_url":"https://creativecommons.org/licenses/by/4.0/"},{"id":"pro-ar","title":"Arkansas Release 78 supplement","text":"Arkansas electronic product files were republished by Public.Resource.Org under a public-domain mark. GroundRules uses enacted text from Release 78 only as a labeled supplement to the newer Open US Law rows.","url":"https://archive.org/details/gov.ar.code"}]},"notice":"GroundRules: Original legal text. Not legal advice."}