Oregon Statutes 324.120 – Statement by taxpayer; other required information
(1) The tax imposed by this chapter shall be paid to the Department of Revenue and the person paying the tax shall file with the department at the time the tax is required to be paid, a statement, under oath, on forms prescribed by the department, giving, with other information required, the following:
Terms Used In Oregon Statutes 324.120
- Department: means the Department of Revenue. See Oregon Statutes 324.050
- Gas: means natural gas and casinghead gas. See Oregon Statutes 324.050
- 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
- Oath: A promise to tell the truth.
- Oil: means petroleum, crude oil, mineral oil and casinghead gas. See Oregon Statutes 324.050
- Person: includes partnership, corporation, association, fiduciary, trustee and any combination of individuals. See Oregon Statutes 324.050
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(a) Full description of the property by lease name, subdivision of quarter section, section, township and range from which the oil or gas was produced;
(b) The name of the producer;
(c) The gross amount of the oil or gas purchased;
(d) The total value of the oil or gas at the price paid, if purchased at time of production;
(e) The formation from which the oil or gas is produced; and
(f) The prevailing market price of oil or gas sold at time of production.
(2) If a purchaser of oil or gas pays the tax, the producer of the oil or gas for which the tax is being paid shall make available to the purchaser all information required under subsection (1) of this section. In lieu of the statement, a purchaser, at time of production, may furnish a true verified copy of the regular settlement sheet in use by such purchaser, if the sheet contains all the information required. [1981 c.889 § 6]