§ 26-58-204 - Credit on severance tax of oil producer. - Arkansas Statutes

26-58-204. Credit on severance tax of oil producer.

Any oil producer in this state who provides for the disposition of salt water produced in the production of oil from oil wells of such oil producer in this state by the means of an approved underground salt water disposal system shall be allowed a credit on severance taxes due and payable to the State of Arkansas on all oil so produced by such salt water producing oil wells in the amount and in the method provided in this subchapter.