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Oklahoma gross production tax producer bonds.
From $100.
Oklahoma's gross production tax falls on oil, gas, and mineral output, and the Tax Commission can require a producer to post a bond (form BT-158) guaranteeing the tax. The Commission sets the amount; premiums run 1% of the bond amount with a $100 minimum.
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Three steps. One sitting.
No underwriting queue for the standard producer bond — enter your amount, pay, and file with the Tax Commission. Here is the whole thing:
Apply online
Your business details, the bond amount the Tax Commission set, and the effective date — that is the entire application.
Issued on the spot
The executed bond is generated as soon as you pay. Larger amounts may get a quick review.
File with the Tax Commission
Submit the executed bond on form BT-158 to the Oklahoma Tax Commission for your gross production tax account. Wet-ink originals mailed whenever the Commission insists.
What it is and who needs it.
What the producer bond actually covers
Oklahoma levies a gross production tax on the value of oil, gas, asphalt, ores, and royalty interests produced in the state, under 68 O.S. §1001 et seq. The tax is administered by the Oklahoma Tax Commission, and a producer — the party that extracts the product — is responsible for reporting and remitting the tax due.
The Tax Commission can require a producer to file a surety bond on form BT-158, guaranteeing that the producer pays all gross production tax, penalties, and interest due the state and complies with the Commission's rules. The amount due, if a claim arises, is ascertained by the Commission.
It is not insurance for you — if the surety pays the tax, you repay the surety. The Commission can also reduce a required bond by certain one-time tax payments. Whatever amount the Commission sets, we issue it from $100, priced at 1% of the bond amount with a $100 minimum.
You need this bond if you are
One application, issued on the spot.
Submit the application with the bond amount the Tax Commission set — the executed BT-158 bond is generated instantly, ready to file.
Start the application →Common questions.
Other Oklahoma bonds.
Producer bond, issued today.
From $100. Enter the amount the Commission set and file the same day.