HB0013 • 2005

Oil & gas valuation methodology-optional procedure.

AN ACT relating to taxation and revenue; providing for an alternative methodology to be used for valuing certain oil and gas production as specified; and providing for an effective date.

Energy

Inactive

Wyoming marks this bill as inactive, which usually means it is no longer moving in the current session.

Sponsor: Representative Cohee
Last action: 2005-03-02
Official status: inactive
Effective date: Not listed

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

2005-03-02 House
H Committee Returned Bill Pursuant to HR 4-3(b)
2005-01-13 House
H Introduced and Referred to H03;No Report Prior to CoW Cutoff
2005-01-11 House
H Received for Introduction
2004-12-06 LSO
Bill Number Assigned

Current Bill Text

Read the full stored bill text

WORKING DRAFT
2005
STATE OF WYOMING
05LSO-0264

HOUSE BILL
NO.
HB0013

Oil & gas valuation methodology-optional procedure.

Sponsored by:
Representative(s) Cohee

A BILL

for

AN ACT relating to taxation and revenue; providing for an alternative methodology to be used for valuing certain oil and gas production as specified; and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S. 39
‑
14
‑
203(b)(vii) is amended to read:

39
‑
14
‑
203.

Imposition.

(b)

Basis of tax. The following shall apply:

(vii)

When the
taxpayer and
department
jointly

agree,
determines
that the application of one (1) of the methods listed in paragraph (vi) of this subsection does not produce a representative fair market value for the crude oil, lease condensate or natural gas production,
a mutually acceptable
the department shall select an
alternative method
may
to
be applied;

Section 2.

This act is effective January 1, 2005.

(END)

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HB0013