| Tax Package Education |
| Samantha Mehrotra |
| 10/27/2009 |
| State Tax Commissioner Cory Fong was in Williston this morning to debrief residents on the tax package that passed through the state legislature last session. Fong discussed tax relief measures and also provided an overview of tax incentives that will help local businesses boost their productivity. "For example, in this region, in this last legislative session, we were able to pass some tax incentives that will be very important to the oil industry. A new horizontal drilling incentive was passed which will lower the oil extraction tax rate from 6.5 percent to 2 percent...to try and continue to encourage production within the region," Fong says. In addition to the horizontal drilling incentive, Fong also mentioned a new incentive introduced for gas gathering. He said the measure will save companies` money by defraying up front costs. Fong`s visit to Williston is part of a larger effort by the North Dakota Tax Department to inform residents about what they can expect during the upcoming tax season |
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