For the purpose of valuation and taxation, all oil and gas leases and all oil and gas wells, producing or capable of producing oil or gas in paying quantities, together with all casing, tubing or other material therein, and all other equipment and material used in operating the oil or gas wells are hereby declared to be personal property and shall be assessed and taxed as such.
K.S.A. 79-329
Oil and gas property as personalty
Applied in 1 court decision — leading case Colorado Interstate Gas Co. v. Federal Energy Regulatory Commission (1988)
Most recently applied in Colorado Interstate Gas Co. v. Federal Energy Regulatory Commission (June 1988)
L. 1917, ch. 323, § 1; March 13; R.S. 1923, 79-329.
Official source: Kansas Office of Revisor of Statutes. Reproduced from public-domain Kansas statutes; confirm against the official source for the current text. Not legal advice.