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MS SB2968
Bill
AI Summary
- Amends Mississippi Code Section 27-65-21 to explicitly include hydraulic fracturing services in the taxable activities for oil and gas well contractors
- Defines "hydraulic fracturing" as the process of fracturing subterranean rock by pressurized fluid injection to enhance oil and gas extraction
- Specifies that compensation received for hydraulic fracturing services is included in the "total contract price or compensation received" subject to the 3.5% contractor's tax
- Applies to contracts exceeding $10,000 for drilling, redrilling, or working over oil and gas wells
- Effective date of July 1, 2014
Legislative Description
Contractor's tax; reduce for drilling oil and gas well utilizing hydraulic fracturing.
Last Action
Died In Committee
2/26/2014
Committee Referrals
Finance2/20/2014
Full Bill Text
No bill text available