Tag Archives: oil tax

Senate Amends Oil Tax Trigger Bill Heavily In Bid To Compromise With Democrats

Senate Amends Oil Tax Trigger Bill Heavily In Bid To Compromise With Democrats

UPDATE: This amendment was passed by the Senate committee on a 6-1 vote. All Republicans on the committee voted yes. The two Democrats split their votes. A source in the state Senate tells me that this afternoon at a 2:00pm meeting of the Senate Finance and Tax Committee an amendment will be offered to HB1476, the oil

John Olsrud: Does It Matter What Voters Had To Say On The Oil Extraction Tax?

In Susan Wefald’s book, Important Voices; North Dakota’s Women Elected State Officials Share Their Stories 1893-2013, she writes that when she was elected to the North Dakota Public Service Commission, she realized from the beginning that it was not her job to look after the large companies who came before the PSC, as they had

oil tax

What North Dakota Democrats Aren't Telling You About Oil Tax Revenues

During the 2013 legislative session, when lawmakers were debating a proposal to eliminate triggers and exemptions in the state oil tax and replace them with a lower overall rate, Democrats rushed to the media with scary numbers about lost revenues. But it turned out the numbers they were using were cooked. No doubt hoping that

ND Democrats Fighting Oil Tax Reform Should Take A Lesson From Kent Conrad

In the House Finance and Taxation committee today there is heated testimony over a delayed bill to eliminate a tax exemption triggered by low oil prices which could cost the state billions of revenues in the next biennium. Currently a 100 percent exemption to the state’s 6.5 percent extraction tax is on pace to trigger

Fix The Damn Oil Tax Already

On the 70th day of the state’s 80 legislative session Republican leaders in the House and Senate have proposed a major reform to oil tax policy. Already it is being met anger from partisan Democrats hoping to inflame the public’s hatred for “big oil,” but it’s time to cut through that nonsense. It’s time to

Michael Filloon: Failing To Reform The Oil Tax May Have Cost North Dakota A Billion Dollars

The recent failure to adopt a flat oil production tax in North Dakota may have cost the state a minimum of a billion dollars. Initially shot down and sold as a tax cut to oil producers, the same oil price based system exists using triggers to decrease taxes. Oil producers benefit from a lower tax

North Dakota Could Have Avoided Revenue Headaches With Oil Tax Reform

Yesterday the state got some ugly news in the form of a forecast showing another $1 billion drop in tax revenues (that coming on top of a previously-released forecast in January showing a $5.5 billion drop from December). Most of the problem is oil prices (though the agriculture industry has had some tough sledding of

Ahead Of Revenue Forecast Dems Doing Oil Tax Trigger Damage Control

There is absolutely no question at this point that the decision by lawmakers in 2013 to rid the state’s oil tax code of oil price “triggers” and other exemptions was a mistake. With oil prices continuing to plunge it seems likely that a trigger eliminating the state’s oil extraction tax, and causing a wild multi-billion dollar

Sen. Lonnie Laffen: Democrats Doomed Meaningful Oil Tax Reforms

The North Dakota legislature will grapple with many challenging issues during the upcoming session. Issues of infrastructure, tax relief, and education top the list. While not as top-of-the-mind as these perennial legislative debates, perhaps the most daunting challenge will be what, if anything, to do about our state’s oil tax structure. [mks_pullquote align=”right” width=”300″ size=”24″