Republican lawmakers introduce a bill that would dramatically change the oil tax structure in North Dakota.
Senator Dwight Cook's proposal would make four major changes.
The biggest impacts would be felt on new stripper wells, incentives to drill outside the Bakken and Three Forks and at a lower flat rate extraction tax.
House majority leader Al Carlson says both oil companies and the state of North Dakota would be giving some to create more stability in the oil industry.
"This is a good long range plan. I think the industry gave up a good deal to get this. We think that's it's good for them and it's good for the state of North Dakota. The naysayers will say here you are cutting a big break for the industry. I don't think it's a big break it has a positive fiscal note," says republican house majority leader Al Carlson.
Cook says the overall tax rate on oil companies would fall to 9.5 percent in January or 2017. Right now it is 11.5 %.
He says the lower tax rate would eliminate triggers in oil prices that if met would dramatically reduce revenue for the state of North Dakota.
Oil companies would also be given incentives to drill outside the Bakken and Three Forks areas.
Friday, May 24 2013 7:01 PM EDT2013-05-24 23:01:01 GMT
It's a bittersweet time for children anxious for Summer, when they also know they're leaving behind their elementary school -- for good. Today is the last day of school for these kids -- and the last
It's a bittersweet time for children anxious for Summer, when they also know they're leaving behind their elementary school -- for good. Today is the last day of school for these kids -- and the last
Friday, May 24 2013 6:57 PM EDT2013-05-24 22:57:59 GMT
Mandan's getting pizza and Bismarck has new glasses. This and more in today's "Around Town." In just a few weeks, Little Caesars will break ground at Sixth and Third in Mandan -- right next to Spirit
Mandan's getting pizza and Bismarck has new glasses. This and more in today's "Around Town." In just a few weeks, Little Caesars will break ground at Sixth and Third in Mandan -- right next to Spirit
Earlier this year, Melanie and Shannon Lennie of Mandan started North Dakota's first support group for families affected by Tourette Syndrome. In this interview from KX News at 5:00 with Marci Narum, Melanie
Earlier this year, Melanie and Shannon Lennie of Mandan started North Dakota's first support group for families affected by Tourette Syndrome. In this interview from KX News at 5:00 with Marci Narum, Melanie
Friday, May 24 2013 3:04 PM EDT2013-05-24 19:04:46 GMT
Finding a place to eat in a small town can be tough. Especially in a town of fewer than 800. While many small town restaurants and bakeries have closed their doors-- the town of Steele keeps things cooking...
Finding a place to eat in a small town can be tough. Especially in a town of fewer than 800. While many small town restaurants and bakeries have closed their doors-- the town of Steele keeps things cooking...
Thursday, May 23 2013 7:14 PM EDT2013-05-23 23:14:33 GMT
It's small but destructive -- and it comes to America courtesy of Asia. The Emerald Ash Borer is an exotic wood-boring beetle currently making it's way across the U.S. to North Dakota. Believed to
It's small but destructive -- and it comes to America courtesy of Asia. The Emerald Ash Borer is an exotic wood-boring beetle currently making it's way across the U.S. to North Dakota. Believed to
Activists say forces loyal to Syrian President Bashar Assad have unleashed their heaviest artillery barrage in a week to dislodge rebels from a strategic western town.
Forces loyal to Syrian President Bashar Assad shelled a strategic western town on Saturday in their heaviest barrage of a week-long battle to dislodge rebels from there, activists said.
U.S. Secretary of State John Kerry says Nigeria must respect human rights as it cracks down on the Islamist extremists. He's also pledging to work hard in the coming months to ease tensions between Sudan and...
Making his first official trip to sub-Saharan Africa, U.S. Secretary of State John Kerry on Saturday demanded that Nigeria respect human rights as it cracks down on Islamist extremists and pledged to work hard in the coming...
Pioneering Washington journalist Haynes Johnson, who helped redefine political reporting, has died at age 81.
When Haynes Johnson visited Selma, Ala., months after a civil rights crisis there gripped the nation, he wrote in The Washington Evening Star that he'd found "no discernible change in the racial climate of the city."...
Haynes Johnson, a pioneering Washington journalist who won a Pulitzer Prize for his coverage of the civil rights movements and migrated from newspapers to television, books and teaching, died Friday. He was 81.
Haynes Johnson, a pioneering Washington journalist who won a Pulitzer Prize for his coverage of the civil rights movement and migrated from newspapers to television, books and teaching, died Friday. He was 81.
North Dakota HeadlinesNorth Dakota HeadlinesMore>>
Anibal Sanchez took a no-hitter into the ninth inning against the Minnesota Twins in a 6-0 victory for the Detroit Tigers. The right-hander was trying to get his second career no-hitter when Minnesota's Joe Mauer hit a...
Chamber of commerce officials in North Dakota are lobbying in support of federal immigration reform. The Greater North Dakota Chamber says the U.S. is not producing enough workers in the fields of science, technology,...
Evangelist Franklin Graham prayed on a sidewalk outside the Pentagon Thursday after his invitation to a prayer service inside was withdrawn because of comments that insulted people of other religions. More>>
Closings/Delays
Calendar
Lottery Results
Viewer Photos
Road Report
TV Listings
Gas Prices
E-Mail Newsletter
