The tax is to be collected from the Producer on the barrels of brine severed during the production month. Monthly reporting forms are mailed out by the Miscellaneous Tax Section and are required to be completed/filed by the 25th day of each month following the report month.
Definitions
1. Brine refers to salt water whose naturally dissolved components, or solutes, are used as source raw materials for bromine and other products derived from the same salt water used in the bromine production.
Taxation
Tax rate equals $2.75 per 1000 barrels or $0.00275 per barrel. 1,000 barrels equals 42,000 US gallons.
Applicable Statutes
AR Code Ann. §§26-58-101 et seq., 26-58-301 et seq.
