Tax breaks for: Oil, mineral industries
Has Michigan got a deal for you
Click on any of the categories below to see how many tax breaks are out there, and how much they cost the state treasury. The numbers were taken from the state's executive budget for 2013 and 2014.
| Type of tax | Category | 2014 tax break value | Description |
|---|---|---|---|
| Oil and Gas Severance Tax | Marginal Wells | $6,700,000 | Taxes oil from marginal or stripper wells at 4.0 percent, rather than the 6.6 percent rate on other oil production. |
| Oil and Gas Severance Tax | Public Land | $2,600,000 | Exempts oil and gas severed from publicly-owned lands from taxation. |
In some cases, the state does not estimate the value of a tax break, leaving the tax break value empty in its tables.
Only donate if we've informed you about important Michigan issues
See what new members are saying about why they donated to Bridge Michigan:
- “In order for this information to be accurate and unbiased it must be underwritten by its readers, not by special interests.” - Larry S.
- “Not many other media sources report on the topics Bridge does.” - Susan B.
- “Your journalism is outstanding and rare these days.” - Mark S.
If you want to ensure the future of nonpartisan, nonprofit Michigan journalism, please become a member today. You, too, will be asked why you donated and maybe we'll feature your quote next time!