Kansas Statutes 79-4219. Mineral severance tax; credit against tax
Terms Used In Kansas Statutes 79-4219
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Gas: means natural gas, and all other raw, unrefined gas or gases, all constituent parts of any such gas or gases and refined products derived from any such gas or gases, including, but not limited to, methane, ethane, propane, butane and helium, taken from below the surface of the earth or water in this state, regardless of whether from a gas well or from a well also productive of oil or any other product. See Kansas Statutes 79-4216
- Gross value: means the sale price of oil or gas at the time of removal of the oil or gas from the lease or production unit and if oil or gas is exchanged for something other than cash, or if no sale occurs at the time of removal or if the director determines that the relationship between the buyer and the seller is such that the consideration paid, if any, is not indicative of the true value or market price, then the director shall determine the value of the oil or gas subject to tax based on the cash price paid to one or more producers for the oil or gas or based on the cash price paid to producers for like quality oil or gas in the vicinity of the lease or production unit at the time of the removal of the oil or gas from the lease or production unit. See Kansas Statutes 79-4216
- Oil: means petroleum, or other crude oil, condensate, casinghead gasoline, or other mineral oil which is severed or withdrawn from below the surface of the soil or water in this state. See Kansas Statutes 79-4216
- Property: includes personal and real property. See Kansas Statutes 77-201
- Taxpayer: means any person liable for the taxes imposed by this act. See Kansas Statutes 79-4216
(a) There shall be allowed to each taxpayer who is liable for ad valorem property taxes upon oil property as defined by Kan. Stat. Ann. § 79-329, and amendments thereto, a credit against the tax levied under Kan. Stat. Ann. § 79-4217, and amendments thereto, upon the severance and production of oil, in an amount equal to 3.67% of the gross value of oil severed and taxable under this act, and in which the taxpayer has a beneficial interest.
(b) There shall be allowed to each taxpayer who is liable for ad valorem property taxes upon gas property as defined by Kan. Stat. Ann. § 79-329, and amendments thereto, a credit against the tax levied under Kan. Stat. Ann. § 79-4217, and amendments thereto, upon the severance and production of gas, in an amount equal to the following amounts: (1) 2% of the gross value of gas severed and taxable under this act, and in which the taxpayer has a beneficial interest for the fiscal year commencing on July 1, 1994, and ending on June 30, 1995; (2) 3% of the gross value of gas severed and taxable under this act, and in which the taxpayer has a beneficial interest for the fiscal year commencing on July 1, 1995, and ending on June 30, 1996; and (3) 3.67% of the gross value of gas severed and taxable under this act, and in which the taxpayer has a beneficial interest for the fiscal year commencing on July 1, 1996, and all fiscal years thereafter.