As you’ve probably heard, the U.S. tax code has been updated for the first time in over 30 years. We believe the recently enacted Tax Cuts and Jobs Act of 2017 encourages investment and makes the U.S more globally competitive. By reducing the corporate tax rate, allowing for specific drilling cost deductions and shifting to a territorial international tax system, the new code will grow the U.S. economy and help put natural gas and oil producers in a better financial position to expand our investments. The legislation takes effect Jan. 1, 2018.
Read more about the key provisions of the final bill in a publication from the U.S. Chamber of Commerce here.