North Dakota Governor Signs Law Exempting Certain Oil, Gas Producers From Tax

The North Dakota Governor signed a law amending the state’s oil and gas tax laws. The law exempts development incentive wells from tax for the first two hundred fifty thousand barrels of oil produced during the first thirty-six months of being certified as a development incentive well, if drilled before July 1, 2028. The law also lists the requirements a well must meet to be certified as a development incentive well. The law takes effect July 1 and expires June 30, 2031. [S.B. 2397, enacted 05/17/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff. ...