Texas Tax Code 201.105 – Value of Liquid Hydrocarbons Other Than Condensate
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Terms Used In Texas Tax Code 201.105
- Taxable value: means the amount determined by deducting from assessed value the amount of any applicable partial exemption. See Texas Tax Code 1.04
The taxable value of liquid hydrocarbons other than condensate is the producer’s total gross receipts for all liquid hydrocarbons, including condensate, recovered from gas produced by him less the taxable value of the condensate recovered from that gas.