West Virginia Code 22C-9-13 – Special oil and gas conservation tax
Owners of leases on oil and gas for the exploration, development or production of oil or natural gas shall pay to the commission a special oil and gas conservation tax of 3¢ for each acre under lease, excluding from the tax the first twenty-five thousand acres. The commission shall deposit with the treasurer of the state of West Virginia, to the credit of the special oil and gas conservation fund, all taxes collected hereunder. The special oil and gas conservation fund shall be a special fund and shall be administered by the commission for the sole purpose of carrying out all costs necessary to carry out the provisions of this article. This tax shall be paid as provided herein annually on or before July 1, 1972, and on or before July 1, in each succeeding year.
Terms Used In West Virginia Code 22C-9-13
- Commission: means the Oil and Gas Conservation Commission and "commissioner" means the Oil and Gas Conservation Commissioner as provided for in §. See West Virginia Code 22C-9-2
- Gas: means all natural gas and all other fluid hydrocarbons not defined as oil as that term is defined in this section. See West Virginia Code 22C-9-2
- 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
- Oil: means natural crude oil or petroleum and other hydrocarbons, regardless of gravity, which are produced at the well in liquid form by ordinary production methods and which are not the result of condensation of gas after it leaves the underground reservoir. See West Virginia Code 22C-9-2
- oil and gas: means "oil or gas or both". See West Virginia Code 22C-9-2
- State: when applied to a part of the United States and not restricted by the context, includes the District of Columbia and the several territories, and the words "United States" also include the said district and territories. See West Virginia Code 2-2-10