Okla. Admin. Code § 710:45-7-2

Current through Vol. 42, No. 7, December 16, 2024

Section 710:45-7-2 - Retroactive crude oil price increase adjustments; timely filing and payment

(a) Amended Monthly Production Reports and additional taxes due thereon for any retroactive increase adjustments in the posted price of crude oil shall be due and must be filed and paid or remitted to the Commission within forty (40) days from the actual date the total price of crude oil, including any retroactive increase adjustments in the posted field price, is established. Any such amended report submitted to the Commission must be accompanied with proof of the date such price was established.

(b) Amended Monthly Production Reports and additional tax due thereon for any retroactive increase adjustments in the posted price of crude oil, which are not filed within forty (40) days from the actual date the total price of such crude oil, including the retroactive increase adjustment in the posted field price, is established, shall be delinquent.

(c) Any interest or penalties ordinarily accruing on delinquent reports or payment or remittance of tax under this Section shall not be waived. [See: 68 O.S. §§ 217, 1010 ]

Okla. Admin. Code § 710:45-7-2