Section 7-32-2 - Definitions.

7-32-2. Definitions.

As used in the Oil and Gas Ad Valorem Production Tax Act:

A.     "commission", "department" or "division" means the taxation and revenue department, the secretary of taxation and revenue or any employee of the department exercising authority lawfully delegated to that employee by the secretary;

B.     "production unit" means a unit of property designated by the department from which products of common ownership are severed;

C.     "severance" means the taking from the soil any product in any manner whatsoever;

D.     "value" means the actual price received for products at the production unit, except as otherwise provided in the Oil and Gas Ad Valorem Production Tax Act;

E.     "product" or "products" means oil, natural gas or liquid hydrocarbon, individually or any combination thereof, carbon dioxide, helium or a non-hydrocarbon gas;

F.     "operator" means any person:

(1)     engaged in the severance of products from a production unit; or

(2)     owning an interest in any product at the time of severance who receives a portion or all of such product for his interest;

G.     "purchaser" means a person who is the first purchaser of a product after severance from a production unit, except as otherwise provided in the Oil and Gas Ad Valorem Production Tax Act;

H.     "person" means any individual, estate, trust, receiver, business trust, corporation, firm, copartnership, cooperative, joint venture, association or other group or combination acting as a unit, and the plural as well as the singular number;

I.     "interest owner" means a person owning an entire or fractional interest of whatsoever kind or nature in the products at the time of severance from a production unit or who has a right to a monetary payment that is determined by the value of such products;

J.     "assessed value" means the value against which tax rates are applied; and

K.     "tax" means the oil and gas ad valorem production tax.