The value of condensate for the purpose of computing the tax due on it is the prevailing price for condensate in the general area where it is recovered.
Official text of the Texas Tax Code as published by the Texas Legislative Council.
Tax Code › Title 2 › Chapter 201 › Subchapter C
Texas Tax Code § 201.106
Value of Condensate
Gas Production Tax · Determining Value
Legislative history
Acts 1981, 67th Leg., p. 1730, ch. 389, Sec. 1, eff. Jan. 1, 1982.