Tax Code › Title 2 › Chapter 202 › Subchapter D

Texas Tax Code § 202.154

Producer to Pay Tax on Oil Not Sold

Oil Production Tax · Payments

If the producer does not sell oil produced in the same month it is produced, the producer shall pay the tax imposed by this chapter as if the oil were sold that month. In such a case, the working interest operator may pay the tax and deduct it from the interest of other interest holders.

Official text of the Texas Tax Code as published by the Texas Legislative Council.

Official source
Legislative history

Acts 1981, 67th Leg., p. 1739, ch. 389, Sec. 1, eff. Jan. 1, 1982.