Kansas HB2775 provides a three-year exemption from severance tax for new oil and gas wells.
Kansas HB2775 amends the state's severance tax law to provide a three-year exemption from severance tax for new oil and gas wells. This exemption applies to the severance and production of oil or gas from a new well, defined as a well that has not produced oil or gas in more than one month in the three years prior to the application for certification. The bill also includes provisions for exemptions related to production enhancement projects and other specific conditions.
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