North Dakota Tax Commissioner: Oil extraction tax rates likely to fall due to lowering prices

(Bismarck, ND) -- North Dakota's oil extraction tax rate may drop after October.  

State Tax Commissioner Brian Kroshus updated official yesterday on the oil tax trigger price that ups the rate paid by companies from five to six percent.  High oil prices have led to the increased tax.

October would be the third month in a row that prices would be below the trigger-price, which would bring the tax rate back down.