File this under another lost during the holiday’s news event. A recent audit found that oil and gas companies owe Garfield County nearly $14 million in unpaid taxes dating back to 2009. In total, ten companies owe back taxes, including Encana, which owes more than $6.7 million.
According to an Aspen Daily News report, it’s common for oil and gas companies, and their subcontractors to deduct more in expenses than they are legally entitled to deduct.
This isn’t the first time that the county has found oil and gas companies with unpaid tax bills. In 2010, Williams Midstream had to pay $4.3 million in late taxes.
What’s more, since 2005, Garfield County has spent $930,000 auditing oil and gas companies tax records.
Moving forward, the industry needs to take responsibility for paying their taxes correctly and on time. The county shouldn’t need to spend nearly $1 million in taxpayer dollars chasing down owed payments.