Miss. Enacts Tax Cut For New Fracking Wells

Law360, New York (April 25, 2013, 7:32 PM EDT) -- Mississippi Gov. Phil Bryant on Tuesday signed a law giving a tax break to hydraulically fractured oil well projects, at least during the first stages of well production.

Under the new law, which was House Bill 1698, hydraulic fracturing companies will have the state's severance tax cut from 6 percent to 1.3 percent for the first 30 months of a well's operations, according to state documents. The new changes also funnel the taxes that are collected to the counties affected by the project's oil drilling operations....
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