OK House passes bill to raise gross production tax rate on oil/g - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

OK House passes bill to raise gross production tax rate on oil/gas wells

OKLAHOMA CITY, OK (KSWO)-  The Oklahoma House has passed House Bill 2429 to raise gross production tax rate on oil and gas production wells taxed at just 1 percent to 4 percent.

An estimated $95 million in revenue could potentially be generated from the increase.

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