Okla. State Chamber to weigh in on oil and gas tax - KSWO 7News | Breaking News, Weather and Sports

Okla. State Chamber to weigh in on oil and gas tax

OKLAHOMA CITY (AP) _ An association that represents some of Oklahoma's largest businesses and industries is expected to weigh in on the state's tax policy concerning the oil and gas industry in Oklahoma.

An economic researcher hired by the State Chamber is expected to release a study Tuesday on oil and gas tax policies.

A key issue for lawmakers in the upcoming legislative session is a generous tax incentive the state offers for horizontal drilling that drops the tax rate from 7 percent to 1 percent for the first 48 months of production. Because horizontal drilling has become the norm, the incentive is costing the state hundreds of millions of dollars in tax revenue each year.

The incentive is set to expire in 2015.

  • Local NewsNewsMore>>

  • 'Enjoy hell:' Doctor's sentence next for assaulting gymnasts

    'Enjoy hell:' Doctor's sentence next for assaulting gymnasts

    Wednesday, January 24 2018 1:09 AM EST2018-01-24 06:09:28 GMT
    Wednesday, January 24 2018 4:51 AM EST2018-01-24 09:51:03 GMT

    Larry Nassar, 54, pleaded guilty to assaulting seven people, but the sentencing hearing has been open to anyone who said they were a victim.

    Larry Nassar, 54, pleaded guilty to assaulting seven people, but the sentencing hearing has been open to anyone who said they were a victim.

  • Work requirements may prompt more states to expand Medicaid

    Work requirements may prompt more states to expand Medicaid

    Wednesday, January 24 2018 12:39 AM EST2018-01-24 05:39:25 GMT
    Wednesday, January 24 2018 4:32 AM EST2018-01-24 09:32:27 GMT

    Some conservative state lawmakers who have resisted expanding Medicaid under the Affordable Care Act are re-thinking that stance now that the Trump administration is allowing work requirements for low-income recipients.

    Some conservative state lawmakers who have resisted expanding Medicaid under the Affordable Care Act are re-thinking that stance now that the Trump administration is allowing work requirements for low-income recipients.

  • In Oscar nominations, fresh voices lead the way

    In Oscar nominations, fresh voices lead the way

    Tuesday, January 23 2018 12:18 AM EST2018-01-23 05:18:02 GMT
    Wednesday, January 24 2018 3:40 AM EST2018-01-24 08:40:02 GMT

    Guillermo del Toro's lavish monster romance "The Shape of Water" will vie for the most Oscar nominations Tuesday, but just as much attention may be focused on categories where women could history.

    Guillermo del Toro's lavish monster romance "The Shape of Water" will vie for the most Oscar nominations Tuesday, but just as much attention may be focused on categories where women could history.

Powered by Frankly