Oklahoma HB3986 modernizes the gross production tax by requiring specific completion methods for certain exemptions, effective November 1, 2026.
Oklahoma HB3986, known as the Gross Production Tax Modernization Act of 2026, introduces new requirements for certain completion methods to qualify for specific exemptions in the gross production tax. This act aims to modernize the tax system by ensuring that only eligible methods are exempt. The changes will take effect on November 1, 2026.
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