So, for the oil and natural gas industry, what is the impact of the new tax bill just passed by congress? As for most other American businesses, the bill is a mixed bag of lowered tax rates and limited deductions, but at the end of the day, it appears to be a net positive.
Here’s why:
- Tax Rates are lowered – This one’s rather obvious. Lowering the corporate rate from 35% to 21%, and lowering all personal marginal rates will clearly benefit everyone involved in the oil and gas industry from a tax standpoint. Not much more needs to be said there.
