Tennessee Code 60-1-301 – Severance tax levied – Exceptions – Disposition of revenues – Moratorium on taxes
Current as of: 2024 | Check for updates
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Terms Used In Tennessee Code 60-1-301
- Gas: means all natural gas and all other fluid hydrocarbons not defined as oil, including condensate because it originally was in a gaseous phase in the reservoir. See Tennessee Code 60-1-101
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Oil: means crude petroleum that was originally in an oil phase in the reservoir. See Tennessee Code 60-1-101
- Owner: means the person who has the right to drill into and to produce from any pool, and to appropriate the production for such person or others. See Tennessee Code 60-1-101
- Person: means any natural person, corporation, association, partnership, receiver, trustee, guardian, executor, administrator, fiduciary or representative of any kind. See Tennessee Code 60-1-101
- Property: includes both personal and real property. See Tennessee Code 1-3-105
- State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105