ND House approves new formula lowering oil extraction tax

April 21, 2015 1:56 AM

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House Bill 1476, introduced on Friday, would eliminate the so-called large trigger exemption on the oil extraction tax, which supporters say would add predictability to oil tax revenues and the industry’s tax structure.

The bill’s fiscal note estimates that eliminating the large trigger, which is projected to take effect June 1, would add an estimated $120 million in state revenue in 2015-17.

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