55-1312. Rendition for taxation of property used by unit; assessment and taxation.

55-1312

Chapter 55.--OIL AND GAS Article 13.--UNITIZATION

      55-1312.   Rendition for taxation of property used byunit; assessmentand taxation.It shall be the duty of the unit operator to make and file all necessaryad valorem tax renditions and returns with the proper taxing authoritiescovering all property of each working interest owner used or held by theoperator in the unit operations. All such property of the several workinginterest ownersshall be assessed and taxed together as a single unit. If such property isnot reported for taxation by the unit operator, assessment and taxation ofthe working interest owners' property of the unit shall be made as aunit by the county assessor.All such ad valorem taxes shall be paid by the unit operator initially as apart of the costs of unit operations with each working interest owner'sshare thereof to be the same as other costs of unit operations. Eachworking interest owner shall pay or cause to be paid all production,severance and other taxes that may be imposed upon or in respect of theproduction of that owner's share of the unitized substances.

      History:   L. 1967, ch. 299, § 12;L. 2000, ch. 15, § 4; Mar. 30.