A recent bill comprehensively overhauled how Mississippi applies its sales tax to oil and gas activities and related equipment. The Department of Revenue recently issued a notice explaining the changes and the newly adopted rates. Effective July 1, 2024, the 3.5% Mississippi contractor’s tax no longer applies to drilling, redrilling, completing, or working over an oil or … Continue Reading
Bill Backstrom and Jay Adams, both partners in the firm’s Tax & Estates Practice Group in the New Orleans office, published an article in the Oil & Gas Financial Journal. In their article titled, “Energy Companies at Risk of Higher Taxes in Louisiana,” Bill and Jay explain that tax assessors in a number of Louisiana parishes are … Continue Reading
