Louisiana failed to collect millions in oil and gas taxes
Source: NOLA.com / The Times Picayune
Louisiana missed out on millions of dollars in oil and gas extraction taxes from 2009 to 2012 due a faulty collection and refund process at the Department of Revenue.
The Louisiana Legislative Auditor's Office found several problems with the state's monitoring and refunding of the severance tax, which is levied on natural resources removed from the ground or water.
...
The Department of Revenue used to have an automated system that would flag companies who had not paid severance tax and send them a bill from the state. In 2009 and 2010, this system sent out notices for $11.9 million worth of unaccounted taxes.
But the program was shutdown in September 2010 because of complaints that it was sending erroneous notices. Without a computer program in place, the Department of Revenue had been relying on audits, which track far fewer companies, to catch those who had not paid severance taxes.
Read more: http://www.nola.com/politics/index.ssf/2013/12/louisiana_oil_and_gas_taxes.html#incart_m-rpt-2
So Louisiana stopped collecting the proper amount of tax and then over-refunded oil and gas firms.
"Bobby" Jindal is really earning those campaign contributions...
"A consortium of local environmental groups on Wednesday charged that Gov. Bobby Jindal's receipt of more than $1 million in political contributions from the oil and gas industry is behind his opposition of a lawsuit against the industry aimed at getting them to restore coastal wetland damage."
http://www.nola.com/environment/index.ssf/2013/08/environmental_groups_say_jinda.html
Judi Lynn
(160,656 posts)KamaAina
(78,249 posts)Kingofalldems
(38,500 posts)DeSwiss
(27,137 posts)Doctor_J
(36,392 posts)"those people" don't vote anyway
Blue_Tires
(55,445 posts)Sunlei
(22,651 posts)who took ALL that state revenue??
olddad56
(5,732 posts)riverbendviewgal
(4,254 posts)you got that right.
freshwest
(53,661 posts)juajen
(8,515 posts)please double check her sources. She replied that she uses World Net Daily and has no reason to suspect them. What can you do? They don't believe a word wed say. I've stopped trying, honestly.