15-16-121. (Temporary) Payment of oil and gas net proceeds taxes. (1) Taxes levied and assessed on new production, production from horizontally completed wells, or incremental production under the provisions of Title 15, chapter 23, part 6, must be paid to the county treasurer in quarterly installments. The payments must be made on or before 5 p.m. on the last day of the months of November, February, May, and August.
     (2) Unless one-quarter of the taxes are paid on or before 5 p.m. on the last day of the months of November, February, May, and August of each year, the amount payable is delinquent.
     (3) Delinquent taxes accrue interest at the rate payable on delinquencies under 15-23-115.
     (4) There must also be added to the delinquent taxes a penalty at the same rate as provided for delinquencies under 15-23-104. (Repealed effective January 1, 1996--sec. 50, Ch. 451, L. 1995.)

     History: En. Sec. 20, Ch. 695, L. 1985; amd. Sec. 9, Ch. 655, L. 1987; amd. Sec. 2, Ch. 33, L. 1995.