143A.033 Credit for production from recovered inactive natural gas well.
98 words·~1 min read·
/ky/chapter-143a/143a-033A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(1)As used in this section, "recovered inactive well" means a well that has been
inactive for a consecutive two
(2)year period or a well that has been plugged and
abandoned, as determined by the Energy and Environment Cabinet, Division of Oil
and Gas, and that resumes producing natural gas.
(2)Every taxpayer engaged in severing or processing natural gas within this
Commonwealth shall be allowed a credit against the tax imposed under KRS
143A.020 equal to four and one-half percent (4.5%) of the gross value of natural
gas that is produced from a recovered inactive well.