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  3. How is the Jicarilla Apache tribal improvement tax credit recognized for purposes of the oil and gas emergency school tax?

How is the Jicarilla Apache tribal improvement tax credit recognized for purposes of the oil and gas emergency school tax?

The Jicarilla Apache tribal improvement tax credit is calculated monthly by product and production unit. It is the lesser of either the amount of the Jicarilla Apache tribal improvement tax imposed by the tribe, or seven-tenths of one percent of the taxable value as determined by applicable state law.