(a)
(1) There is levied a tax of two cents (2cent(s)) per barrel of oil produced in this state.
(2) The taxes shall be reported and paid monthly to the Director of the Department of Finance and Administration by each producer of oil in such manner and upon such forms as the director shall prescribe.
(b)
(1) There is levied a tax of ten cents (10cent(s)) per one thousand (1,000) barrels on all brine produced in this state for the purpose of bromine extraction.
(2) The tax shall be reported and paid monthly to the director by each producer of brine and oil in such manner and upon such forms as the director may prescribe.
(c)
(1) Funds collected by the director under this section are classified as cash fund receipts, and the full amount of the funds shall be deposited into one (1) or more accounts in one (1) or more banks in this state, which account or accounts shall be designated "Arkansas Museum of Natural Resources Fund".
(2) All funds in such accounts shall be used exclusively for the maintenance, operation, and construction of the Arkansas Museum of Natural Resources.
(d) The taxes levied by this section shall be in addition to any and all other fees and taxes levied on oil and brine produced in this state.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
