Oklahoma - Gross Production Tax- Producer (BT-158) — required surety bond in Oklahoma. Apply online in minutes.
The Oklahoma Gross Production Tax - Producer Bond (BT-158) is a financial guarantee required by the state for individuals or entities extracting oil, gas, or other minerals. It ensures that the producer accurately reports production volumes and pays all applicable gross production taxes to the Oklahoma Tax Commission.
Any individual or business operating as a producer of oil, gas, or other taxable minerals in Oklahoma generally needs this bond. It is typically required by the Oklahoma Tax Commission before a producer can legally extract resources and receive a gross production tax permit.
The Oklahoma Tax Commission requires this bond to protect the state's tax revenue. It guarantees that if a producer fails to remit the required gross production taxes, penalties, or interest, the state has a secure financial mechanism to recover those unpaid funds.
To get started, simply click Apply Now to complete our secure online application in about five minutes. Once processed and approved, your bond will be delivered directly to you by email. For any questions, Noah Insurance Agency is licensed nationwide and available at 814-718-0060.
Premiums vary depending on the specific bond amount required and the personal credit history of the applicant. To find out your exact cost, please submit our quick online application for a quote.
Bond amount requirements vary depending on your estimated tax liability and production volume. You must verify your exact required bond amount directly with the Oklahoma Tax Commission before applying.
Yes, applicants with less-than-perfect credit can often still be approved. Because terms and rates vary based on credit history, we recommend applying online to see your specific options.
The obligee that requires this bond is the Oklahoma Tax Commission. They mandate it to ensure compliance with state tax laws regarding resource extraction.
Send us a note or call 814-718-0060 — a licensed agent will confirm the bond amount and requirements for you.
Noah Insurance Agency · Licensed Nationwide