Tuesday, December 21, 2010

Hamm Says Tax Deduction Should Stay

In an AP interview published today, Continental Resources CEO Harold Hamm says the elimination of a tax deduction for drilling costs would reduce the investment capital for drilling by one-third or more and cost North Dakota's economy billions of dollars. A federal deficit reduction commission has recommended the deduction for so-called "intangible drilling costs" be dropped as part of a general overhaul of business taxation. Read more...

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