§ 57-51.1-03.1 — Stripper well, new well, secondary or tertiary project, and restimulation well certification for tax exemption or rate reduction - Filing requirement

North Dakota § 57-51.1-03.1

• Jurisdiction: North Dakota
• Title 57: Taxation
• Ch. 57-51.1: Oil Extraction Tax

Text

well certification for tax exemption or rate reduction - Filing requirement.
1. To receive the benefits of a tax exemption or tax rate reduction, a certification of
qualifying well status prepared by the industrial commission must be submitted to the
tax commissioner as follows:
a. To receive, from the first day of eligibility, a tax exemption on production from a
stripper well property or individual stripper well under subsection 2 of section
57-51.1-03, the industrial commission's certification must be submitted to the tax
commissioner within eighteen months after the end of the stripper well property's
or stripper well's qualification period.
b. To receive, from the first day of eligibility, a tax exemption under subsection 3 of
section 57-51.1-03 on production from a secondary or tertiary project, the
industrial commission's certification must be submitted to the tax commissioner
within eighteen months after the month in which the first incremental oil was
produced.
c. To receive, from the first day of eligibility, a tax exemption or the reduction on
production for which any other tax exemption or rate reduction may apply, the
industrial commission's certification must be submitted to the tax commissioner
within eighteen months of the completion, recompletion, or other qualifying date.
d. To receive, from the first day of eligibility, a tax rate reduction under subsection 5
of section 57-51.1-03 on production from a restimulation well, the industrial
commission's certification must be submitted to the tax commissioner within six
months after the month in which the first oil was produced.

2. If the industrial commission's certification is not submitted to the tax commissioner
within the eighteen-month period provided in this section, then the exemption or rate
reduction does not apply for the production periods in which the certification is not on
file with the tax commissioner. When the industrial commission's certification is
submitted to the tax commissioner after the eighteen-month period, the tax exemption
or rate reduction applies to prospective production periods only and the exemption or
rate reduction is effective the first day of the month in which the certification is received
by the tax commissioner.