Shelby Oil Back Taxes

Great Falls, MT: (Sep-26-07) The Montana Revenue Department and five Hi-Line counties brought a lawsuit against Shelby oil and gas companies, over back taxes. In a settlement reached, the company agreed to a nearly $1.8 million payout to resolve the allegations that it owed millions in back taxes to the government. The settlement was made in late July 2007, but Revenue Department officials said then that they could not comment on details until the involved parties agreed to a joint press release. The report said the department will receive a total of $1,792,000, which will be paid to the state and Blaine, Glacier, Liberty, Pondera and Teton counties. It represents the full amount of unpaid taxes, penalties and interest through May 23, 2007, the report said. William F. Fulton, Fulton Fuel Co. and other affiliates agreed to pay the state of Montana $1.4 million at the time of the settlement on July 31, and the remaining $392,000 by Jan. 26, 2008. [GREAT FALLS TRIBUNE: BACK TAXES]

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Published on Sep-27-07