Online tax rate calculator updated for fiscal 2012 high-cost natural gas wells

Texas Comptroller of Public Accounts sent this bulletin at 02/10/2012 02:20 PM CST

The Texas Comptroller’s website has been updated to include the median drilling and completion costs for high-cost natural gas wells completed in fiscal 2011. The fiscal 2011 median is used to calculate the tax rate for high-cost gas wells completed in fiscal 2012, which includes wells completed between Sept. 1, 2011, and Aug. 31, 2012.

An online tool to help determine the tax rate for an approved high-cost gas well is available at:

https://ourcpa.cpa.state.tx.us/ngrate/wellcalc.html