{"data":{"id":"us-ok/okla.-stat.-tit.-68-68-1022","jurisdiction":"us-ok","citation":"Okla. Stat. tit. 68, § 68-1022","heading":"Conditional increase in value of natural gas - Handling","body":"and distribution of tax levied thereon.\n\nWhen an increase in the gross value of petroleum or other crude\n\nor mineral oil, natural gas, casinghead gas or liquids extracted\n\ntherefrom sold by a producer is subject to the approval of an agency\n\nof the United States of America or a court of competent jurisdiction\n\nadjudicating an appeal from said agency, the gross production tax\n\nprovided for in this article on any such proposed increase in gross\n\nvalue when collected by a producer shall be separately reported and\n\nconditionally paid, subject to and pending the final outcome of any\n\nproceeding by such agency or court relating to a determination of\n\nthe amount of such increase in gross value; provided, however that\n\nnothing herein shall be construed to impose any duty upon a producer\n\nto collect any proposed increase in gross value; and provided\n\nfurther, that \"gross value\" or \"increase in gross value\" as used in\n\nthis section shall mean the amount a producer is collecting for the\n\nsale of any petroleum or other crude or mineral oil, natural gas,\n\ncasinghead gas or liquids extracted therefrom sold which is subject\n\nto the jurisdiction of such agency or court. All monies so\n\nconditionally collected by the Tax Commission under the provisions\n\nof this section shall be accounted for in the following manner:\n\n(a) At least once each month the Tax Commission shall deposit\n\nsuch collections in a special account in a bank or banks approved as\n\na depository for monies of the State of Oklahoma. Each bank in\n\nwhich such monies are deposited shall credit the account at the end\n\nof each calendar quarter with the highest rate of interest then\n\nbeing paid by such bank for deposited monies of the State of\n\nOklahoma, calculated on the total daily average balance on deposit\n\nduring such calendar quarter.\n\n(b) When a producer or purchaser gives written notice to the\n\nTax Commission that such agency or court has, by final order,\n\ndisapproved, in whole or in part, the proposed increase in gross\n\nvalue, then the Tax Commission shall, within thirty (30) days after\n\nreceipt of such notice, withdraw from the bank holding such monies\n\nan amount of money equal to the tax conditionally paid on the\n\nproposed increase in gross value which has been disapproved,\n\ntogether with the interest earned on such money, and remit it to the\n\nperson, firm, association or corporation which conditionally paid\n\nsuch tax.\n\n(c) When such agency or court approves, by final order, the\n\nproposed increase in gross value, in whole or in part, the producer\n\nor purchaser involved having paid the tax conditionally shall\n\nimmediately give written notice of such approval to the Tax\n\nCommission and it shall promptly withdraw from the bank holding such\n\nmonies an amount of money equal to said tax conditionally paid on\n\nthe proposed increase in gross value which has been approved,\n\ntogether with the interest earned on such money, and shall\n\ndistribute the same as provided by the law then in force for the\n\ndistribution of gross production taxes.","path":["OK Code","Title 68"],"source_url":"https://www.oklegislature.gov/OK_Statutes/CompleteTitles/os68.pdf","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:36Z","sha256":"ee9f1ccb8fe5c07de58d925b695e0bb40252bf3f985ae9dcada8c02f0bccefbc","source_id":"us-ok","stale":false,"prev":"us-ok/okla.-stat.-tit.-68-68-1021","next":"us-ok/okla.-stat.-tit.-68-68-1023"},"notice":"GroundRules: Original legal text. Not legal advice."}