About Gross production tax refunds, used to launder criminal profits.
The official definition of 'Gross Production Tax.'
Gross Production Tax is also known as severance tax - is a tax states imposed on companies that generate revenues by depleting non-renewable resources. Such companies include producers of oil and gas, coal miners, miners of metals and minerals, water (in some states), etc. Gross production taxes are partly used as a means of compensating the state for the pollution that miners emit.
Investments made 07/01/05 thru 6/7/06 or to 10/31/06 with "grandfather provision"
- The Annual report required to be filed by the reporting entity - View and statutes.
- Only the part with the (gross production) tax liability can claim the credit - sView and statutes.
- Refund voucher dates View
Gross Production Tax Refunds - HB 1680, enacted 2005, authored by Kevin Calvey, House Tax Committee Chairman. Tax legislation, allowing four tax credits involved to be used with Gross Production taxes (Oklahoma Statutes, Title 36 Sections 1001, 1101, 1102). Date July 1, 2006, was ignored.
Tax credits are SBC (2357.62 A), SBV (2357.63 A), RSBC (2357.73 A), and RSBV (2357.74 A).
Although not originally intended to be used for this purpose, gross production tax refunds provide the means to skim and divert taxes (paid by taxpayers) received by state tax commissions offshore before the taxes are recorded. The only effect is to appear as less tax revenue? Learn more. This was pointed out to remind readers corruption operates in those little known and understood details. There is the challenge of a learning curve to understand corruption. Most probably wouldn't know much about counterfeit tax credits either?
Gross production tax refunds and the KGB connection. KGB is the Russian private equity firm, where Michael Calvey is Chairman and co-founder, and KGB is a perfect means for diverting unrecorded tax revenue offshore. Language slipped into tax legislation by Kevin Calvey, the brother of Michael Calvey, allowing tax credits to be swapped for gross production taxes while Kevin Calvey was Chairman of the Oklahoma Tax Committee.
Two missing FBI bank investigations (1982 and 2009) involving Paul Doughty, who destroyed one bank, was allowed to destroy a second bank; and walk away free with $millions of stolen tax revenue.
Taxes paid and received, but unrecorded as tax revenue was diverted to unknown out of state/country money laundering channels. Central figures in the scheme included Doughty, the other suspect, Don Anderson, Tony Mastin, the head of the OTC, and Kevin Calvey, chairman OK House Tax Committee. Kevin Calvey's brother Michael Calvey is a senior partner and co-founder of Baring Vostok Capital Partners, Moscow, Russia, the Russia's largest private equity firm. Kevin Calvey was chairman of the Oklahoma state tax revenue committee in 2005 when language was slipped into tax legislation HB 1680, allowing exchanging tax credits
for gross production tax refunds.
Kevin Calvey was still chairman in 2006 when additional language was slipped into (5) different tax Statutes (SB 1577 2006) to counterfeit more than $200 million tax credit, under a ruse of claiming to have closed a loophole, ending tax credit abuses. This is what prompted involvement on my part.