§ 26-58-207 - Reports of tax due on oil produced. - Arkansas Statutes

26-58-207. Reports of tax due on oil produced.

(a) Each oil producer having a permit from the Director of the Department of Finance and Administration authorizing such oil producer to obtain the benefits of this subchapter upon forms prescribed by the director and under such rules and regulations as may be prescribed by the director shall report during each tax reporting period the total barrels of oil produced by oil wells producing salt water during such reporting period and shall compute the total severance tax due on such oil production.

(b) In addition, the oil producer shall report any additional or supporting information as may be required by the director during each tax reporting period as may be necessary to support the credit claimed by the oil producer.