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Thanks a billion: Well tax break cost state $1.1B
Source:
shreveporttimes.com
- Oct 26, 2015
Louisiana lost more than a billion in severance tax revenue over five fiscal years ending in 2014 because of state tax breaks for horizontal drilling, the Louisiana Legislative Auditor’s Office revealed in an informational report released Monday.
The report, “Severance Tax Suspension for Horizontal Wells,” was developed to determine how much money the state may have lost because of the severance tax suspension, which occurs for the first two years of the well, and whether other states allow similar tax suspensions.
The report on the study was issued Aug. 19 and sent to the governor, attorney general, Senate President John Alario, House Speaker Chuck Kleckley and other public officials.
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Category: Louisiana
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