Skip to Site Navigation | Skip to Content

Group trying for 7-percent tax on oil, gas abandons state question

Group trying for 7-percent tax on oil, gas abandons state question

NewsOK
by Dale Denwalt  
Published: April 23, 2018 2:47 PM CDT
Updated: April 23, 2018 4:51 PM CDT

Restore Oklahoma Now, the group that planned to put a gross production tax increase on the statewide ballot in November, has ended its campaign.

Instead, the group's leaders said they will focus on other legislative campaigns and fighting against another campaign to veto the tax increase that lawmakers adopted in March.

When Restore Oklahoma Now proposal was first introduced, it would have raised the tax rate on oil and gas production on new wells from 2 percent to 7 percent. However, when lawmakers adopted a 5-percent gross production tax rate in advance of the teacher walkout, Restore Oklahoma Now reconsidered its goal... FULL ARTICLE

No comments (Add your own)

Add a New Comment


code
 

Comment Guidelines: No HTML is allowed. Off-topic or inappropriate comments will be edited or deleted. Thanks.