Posts Tagged ‘Debt Relief’

Research of Tax for Drilling in Oklahoma

September 29th, 2022

As the Oil and gas field’s of Oklahoma boosting up,Guest Posting the tax revenue also follow the growth. The state government is seems to have no attention on the gas and oil field but oil policy institute of Oklahoma has been critical of such state tax collections, like those for horizontal drilling, an oil and gas extraction technique that was once experimental and has evolved to become an industry standard.

Drilling in Oklahoma supports the tax breaks, which they feel as an investment in one of the state’s largest economic drivers.

A study of left-leaning think-tank shows that if the state eliminated the incentives, its oil and gas taxes would still be modest compared to five of its oil-umbilical peer states of USA.

The state of Oklahoma got a 7 percent gross production tax on oil and gas drilling, But many Oil and gas driller in Oklahoma who drill horizontal well only pay 1 percent for nearly 4 years of production thanks to a tax incentive.