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Are there any tax credits related to the oil and gas production equipment ad valorem tax program?

April 26, 2017AD equipment Gas Oil production program tax tax credits valorem

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Are there any tax credits related to the oil and gas production equipment ad valorem tax program?

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A taxpayer may qualify for a credit against current production equipment ad valorem taxes if the products are severed from Indian tribal land or if tax is imposed on the privilege of severing products from Indian tribal land. This credit is called the Intergovernmental production tax credit.