Statutes > Arkansas Statutes > Title 15 - Natural Resources and Economic Development > Subtitle 6 - Oil, Gas, and Brine > Chapter 72 - Oil and Gas Production and Conservation > Subchapter 10 - Enhanced Recovery > § 15-72-1003 - Tax incentives -- Increased volume by new research technology.

§ 15-72-1003 - Tax incentives -- Increased volume by new research technology.

15-72-1003. Tax incentives -- Increased volume by new research technology.

If the utilization of new research technology results in the increased production of crude oil by an active field, as established by the Oil and Gas Commission, then the total quantity of the incremental increase in crude oil produced as a result of the new technology shall be exempt from severance tax.