WDAY.com

WDAZ: Your Home Team

Published March 11, 2013, 02:26 PM

Opposition to Oil Tax Restructuring

A group that represents North Dakota's oil industry is opposing a Republican-sponsored House bill that would restructure oil taxes in the state. North Dakota Petroleum Council President Ron Ness says the measure is too complex and costly for companies.

A group that represents North Dakota's oil industry is opposing a Republican-sponsored House bill that would restructure oil taxes in the state. North Dakota Petroleum Council President Ron Ness says the measure is too complex and costly for companies.

Republican Representative Roscoe Streyle told a Senate committee the intent of the bill is to simplify the state's tax code and encourage long-term oil development, but Ness says the bill would hurt drilling because it effectively raises taxes on oil companies. Ness' group represents more than 400 companies working in the oil patch in western North Dakota.

Tags: