(1) A privilege tax of six percent of the gross value at the well is levied upon the production of oil and gas within the State of Oregon. The gross value at the well shall be reduced by the value of any part thereof, the ownership or right to which is exempt from taxation. (2) […]
An exemption from the tax levied on oil or gas imposed by ORS 324.070 is granted upon the first $3,000 in gross sales value of the gross production each calendar quarter from each well. [1981 c.889 §3]
(1) Any royalty or other interest in oil or gas owned by the state, counties, cities, towns, school districts or other municipal corporations or political subdivisions, is exempt from the gross production tax imposed by ORS 324.070. (2) There shall be allowed as a credit against taxes imposed by this chapter all ad valorem taxes […]
