Oregon Revised Statutes Chapter 324 § 324.070 — Imposition of tax; rate; basis of levy
Oregon Revised Statutes Chapter 324 ·
Oregon Code § 324.070·Enacted ·Last updated March 01, 2026
Statute Text
Imposition of tax; rate; basis of levy.
(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) The tax
levied shall be measured by the value of the whole production, including what
is commonly known as the royalty interest. [1981 c.889 §2; 1991 c.459 §322]
Plain English Explanation
This Oregon statute addresses Imposition of tax; rate; basis of levy. AI-powered analysis coming soon.
Key Points
01Part of Oregon statutory law
02Referenced as Oregon Code § 324.070
03Subject to legislative amendments
04Consult a licensed attorney for application to specific cases
Frequently Asked Questions
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