North Dakota oil producers facing possible higher taxes

Photo by: Governor Doug Burgum - Facebook
Photo by: Governor Doug Burgum - Facebook

(Bismarck, ND) -- North Dakota oil producers are facing the possibility of higher tax rates.

A trigger law passed in 2015 increases the tax rate to eleven-percent if oil prices remain over 95-dollars a barrel for three consecutive months.

If current indicators continue, the trigger will go into effect June 1st and last until at least September 1st.