North Dakota calculates oil taxes using a formula based on the benchmark WTI market price to determine the trigger for the oil extraction tax. The trigger can impact new wells, existing wells and producers. North Dakota calculates oil taxes using a formula based on the benchmark WTI market price to determine the trigger for the oil extraction tax. In 2014, the trigger was set at $52.06 and increased to $52.59 for 2015. If the price for WTI minus $2.50 is below the trigger for one month, then all new wells completed in that month qualify for a reduced tax of 2 percent. If WTI minus $2.50 is below the trigger for five consecutive months, then all wells have the 6.5 percent extraction tax reduced to zero percent for 18 months. Based on the current and futures market pricing for WTI, the tax trigger should be enacted in May 2015. […]