Nebraska § 57-703 Tax; levy on resources severed; rate

Nebraska Statutes

§ 57-703 — Tax; levy on resources severed; rate

Nebraska § 57-703

Ch. 57Minerals, Oil, and Gas

This text of Nebraska § 57-703 (Tax; levy on resources severed; rate) is published on Counsel Stack Legal Research, covering Nebraska primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Neb. Rev. Stat. § 57-703 (2026).

Text

The taxes levied by section  57-702  shall be levied upon the value of the resources severed, and shall be paid at the rate of three percent of the value of nonstripper oil and natural gas, except that oil produced from properties producing stripper oil shall be subject to a two percent severance tax. The value of oil and natural gas shall be computed immediately after such severance at the place where the same were severed.

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The taxes levied by section 57-702 shall be levied upon the value of the resources severed, and shall be paid at the rate of three percent of the value of nonstripper oil and natural gas, except that oil produced from properties producing stripper oil shall be subject to a two percent severance tax. The value of oil and natural gas shall be computed immediately after such severance at the place where the same were severed.