House Bill 1166 Gives The Oil Industry Better Tax Treatment Than Everyone Else
All taxes should be flat with a consistent with equal exemptions for everyone so that simply being able to afford high priced lawyers and CPAs is not a way to get out of paying taxes.
This applies to state taxes just as much as federal taxes.
House Bill 1166 just passed the State House which eliminates the high-price trigger left in place in 2015 and makes the oil tax a true flat tax.
"The goal was to generate a flatter tax rate, one that's more predictable and reliable, so long-term planning can be made by all," said Rep. Jim Grueneich, R-Jamestown, a member of the House Finance and Taxation Committee.
Oil prices are not anticipated to reach that high in the 2017-19 biennium, so there would be no fiscal impact to the state. The bill needs to be considered by the state Senate.
While this is not terrible policy, North Dakotans should ask why they do not ge…
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