Section 39-14-201 – Definitions.
39-14-201. Definitions. (a) As used in this article: (i) “Arm’s-length market or sales price” means the transaction price determined in connection with a bona fide arm’s length sale; (ii) “Bona fide arm’s-length sale” means a transaction in cash or terms equivalent to cash for specified property rights after reasonable exposure in a competitive market between […]
Section 39-14-202 – Administration; Confidentiality.
39-14-202. Administration; confidentiality. (a) Administration. The following shall apply: (i) The department shall annually value and assess crude oil, lease condensate or natural gas production at its fair market value for taxation; (ii) Based upon the information received or procured pursuant to W.S. 39-14-207(a) or 39-14-208(a), the department shall annually value crude oil, lease condensate […]