Oregon Statutes 324.080 – Exemptions of gross sales value
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An exemption from the tax levied on oil or gas imposed by ORS § 324.070 is granted upon the first $3,000 in gross sales value of the gross production each calendar quarter from each well. [1981 c.889 § 3]
Terms Used In Oregon Statutes 324.080
- Gas: means natural gas and casinghead gas. See Oregon Statutes 324.050
- Gross production: means the total volume of oil or gas extracted from a well, including oil or gas extracted but not sold. See Oregon Statutes 324.050
- gross sales value: means the actual cash price prevailing for oil or gas of the kind, character and quality of the oil or gas subject to the tax imposed under this chapter at the time such oil or gas is produced, as determined by the department. See Oregon Statutes 324.050
- Oil: means petroleum, crude oil, mineral oil and casinghead gas. See Oregon Statutes 324.050