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Saturday, July 14, 2012

Oil Taxes in North Dakota: 90% to the State; 10% Back to the County

Link to InsideClimate News/Dickinson Press here
A complex formula now determines how much gross production tax revenue goes back to the counties and how much goes into assorted state accounts, including a voter-approved state Legacy Fund that collects 30 percent of oil tax revenue for the future.

With the level of production Williams County has currently, the state gets 90 percent of the gross production tax and 10 percent goes back to the county.

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