§ 7-34-2. Definitions

As used in the Oil and Gas Production Equipment Ad Valorem Tax Act: A. “ commission ”, “ department ” or “ division ” means the taxation and revenue department, the secretary of taxation and revenue or any employee of the department exercising authority lawfully delegated to that employee by the secretary; B. “ person ” means any individual, estate, trust, receiver, business trust, corporation, firm, copartnership, cooperative, joint venture, association or other group or combination acting as a unit; C. “ operator ” means any person engaged in the severance of products from a production unit; D. “ product ” means oil, natural gas or liquid hydrocarbon, individually or any combination thereof, carbon dioxide, helium or a non-hydrocarbon gas; E. “ severance ” means taking any product from the soil in any manner; F. “ production unit ” means a unit of property designated by the department from which products of common ownership are severed; G. “ equipment ” means wells and nonmobile equipment used at a production unit in connection with severance, treatment or storage of production unit products; H. “ value ” means the actual price received for products at the production unit as established under the Oil and Gas Ad Valorem Production Tax Act; I. “ assessed value ” means the value against which tax rates are applied; and J. “ tax ” means the oil and gas production equipment ad valorem tax.