North Dakota House Approves Crude Tax Reforms

April 21, 2015 10:26 AM

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The North Dakota House of Representatives voted overwhelmingly in favor of a bill that would exempt oil firms from taxes if crude prices continue trending downwards, giving them a lower flat tax rate that would be in effect permanently.

The House voted in favor of the bill 57-32, approving reforms that backers believe would allow for a more predictable budget. Critics, however, believe that the laws could end up costing North Dakota billions of dollars in revenue from the crude oil space. Staunchest among these critics are state ...

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