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OIPA News - Taxes

Governor signs gross production tax bill

May 29, 2014

Gov. Mary Fallin signed legislation that provides for a permanent, lowered tax rate for new oil and natural gas wells. Full Story >>

OETA news report to look at oil and gas tax issue

July 18, 2013

A segment on this week’s “Oklahoma News Report” on OETA public television will look at state tax provisions for the oil and natural gas industry. Full Story >>

OIPA comments to U.S. Senate Finance Committee

January 24, 2014

OIPA sent the following comments to the U.S. Senate Committee on Finance in January:

Please accept the following comments in response to the U.S. Senate Committee on Finance’s November 21, 2013, discussion draft on proposed changes to the U.S. Tax Code’s cost recovery and tax accounting rules. Full Story >>

Study takes in-depth look at oil and gas tax policy in Oklahoma

January 14, 2014

An independent study released today by the State Chamber Research Foundation provides an in-depth examination of the oil and gas industry and how tax policy led to an amazing resurgence. Full Story >>

OTC opens registration for new reporting site

February 10, 2015

The Oklahoma Tax Commission is in the midst of implementing a new gross production tax reporting system. As part of the rollout, the OTC announced Wednesday that entities may begin to register for the Gross Production Report System testing site. The testing site itself will be live Feb. 1 through March 31. Full Story >>

Lawmakers should proceed with caution on budget

February 20, 2019

The slide in Oklahoma’s projected budget surplus demonstrates the impact volatile commodity prices have on a state budget that’s over-reliant on a single industry. The State Board of Equalization certified revenue this week and projected a $574 million surplus — a six percent reduction from earlier projections. Full Story >>

Oil and gas industry more critical to Oklahoma now than ever

February 07, 2019

OIPA-OKOGA President Chad Warmington empowered the crowd at the Tulsa Wildcatter Wednesday Luncheon on Feb. 6 with facts they can take to the community to spread the word about the importance of Oklahoma’s oil and natural gas industry.
“What you’re going to see with a combined OIPA and OKOGA is a renewed focus on making sure Oklahoma is the best place to do business that we can possibly make it,” Warmington said. Full Story >>

Good news from the state Treasurer's office

January 16, 2019

The start of the legislative session is less than a month away, and lawmakers have already received good news from the state Treasurer’s office. Full Story >>

Seminole Nation issues 8% severance fee notice

October 15, 2018

A number of OIPA members recently received a letter from the Seminole Nation Business & Corporate Regulatory Commission (“BCR”) seeking to enforce an 8% severance fee subsequent to the issuance of Public Notice No. 2018-01. Full Story >>

Louisiana assessor sues producers

August 31, 2009

The property assessor in Louisiana's Terrebonne Parish has sued 31 oil and gas companies for more than $100 million based on information provided by Oklahoma-based Visual Lease Services.
Full Story >>

Star's death shines light on estate tax

July 14, 2009

The much-publicized death of Michael Jackson has shined a new light on estate taxes as experts sort through his holdings with an eye on the tax bill they will generate. Full Story >>

Lame duck Congress could revisit tax incentives

November 30, 2010

Tax provisions for the oil and natural gas industry could be back on the table as lawmakers push to extend tax cuts enacted during George W. Bush's presidency.
Full Story >>

Tax commission to show GPT reporting system

November 03, 2014

The Oklahoma Tax Commission will host a demonstration of its new gross production tax reporting system. Full Story >>

Solich: Raising taxes would cause rigs to move

November 02, 2017

George H. Solich, president and CEO of Denver-based FourPoint Energy LLC, spoke at OIPA’s Wildcatter Wednesday Luncheon in Oklahoma City on Nov. 1. Full Story >>

GPT reporting system delayed

March 20, 2015

The effective start date for companies to begin filing their monthly gross production tax reports using the Oklahoma Tax Commission's new tax reporting system has been changed from April 1 to June 1. Full Story >>

Wind getting a free ride?

January 28, 2016

Renewables have been given a free ride at taxpayers’ expense in order to compete with traditional energy producers, and state and federal policies are serving to pick the “winners” for the production of electricity in the next century, according to a wind energy watchdog. Full Story >>