Louisiana Revised Statutes 47:648.3 – All severance taxes on production from certified new discovery oil and natural gas wells are hereby suspended from the date of completion for a period of twenty-four months or until
Terms Used In Louisiana Revised Statutes 47:648.3
- Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
§648.3. Severance tax suspension on production from certified new discovery oil and natural gas wells
All severance taxes on production from certified new discovery oil and natural gas wells are hereby suspended from the date of completion for a period of twenty-four months or until recovery of payout of the well cost, whichever comes first. Payout of the well cost shall be determined by the Department of Natural Resources.
NOTE: §648.3 as amended by Acts 2023, No. 150, eff. Jan. 10, 2024.
§648.3. Severance tax suspension on production from certified new discovery oil and natural gas wells
All severance taxes on production from certified new discovery oil and natural gas wells are hereby suspended from the date of completion for a period of twenty-four months or until recovery of payout of the well cost, whichever comes first. Payout of the well cost shall be determined by the Department of Energy and Natural Resources.
Acts 1994, No. 2, §2, eff. June 1, 1994; Acts 2023, No. 150, §18, eff. Jan. 10, 2024.