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Published April 05, 2011, 01:18 PM

ND Senate considers lower potash tax

BISMARCK, N.D. — Potash might soon be mined in North Dakota, and state lawmakers are considering how to tax it.

BISMARCK, N.D. — Potash might soon be mined in North Dakota, and state lawmakers are considering how to tax it.

A proposal in the North Dakota Senate would charge a 1.5 percent tax on all extracted potash. The first $1 million in taxes from each mine would go to the county where it is located. After that, the state would get 90 percent of the tax money.

The House approved a different version of the bill in February. It set the tax rate at 4 percent and gave more money to the counties.

Potash is a fertilizer in high demand in China. A London-based company is exploring deposits in Burke County. A spokesman says the company could begin mining in two years and be fully operating in five years.

The measure is HB1046.

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