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Advisory committee approves study of stripper-well oil extraction tax exemption
Summary
The Tax Reform Relief Advisory Committee voted to ask state agencies to study the oil extraction tax’s "stripper-well" exemption, directing Legislative Counsel’s draft scope to the Department of Mineral Resources, Tax Commissioner and research partners for work aimed at an April–June report next year.
The Tax Reform Relief Advisory Committee voted to request a formal study of the oil extraction tax’s stripper-well exemption, chairing legislators said after debate on the scope and background.
The committee’s motion, moved by Representative Hedlund and seconded by Senator Patton, asks the Department of Mineral Resources, the Tax Commissioner’s office and research partners to gather data on which wells currently qualify, counts of qualifying wells, and the estimated fiscal impact of the exemption. Clerk…
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