MMEX Resources Corp (MMEX)

[jmjjw]

Unfortunately (for the MMEX STRONG), you lack the relevant facts to support such a claim.

Texas has a tax deferment program known as Chapter 313.

Pecos County, with more than 100 years of dealing with oil & gas activity, and the school district, the principal taxing authority within the county, regularly uses Chapter 313 exemption and deferment for oil & gas production facilities like refineries, gas plants, and related infrastructure.

The reality is, that if the imaginary MMEX facility were ever built, it would generate no tax revenue for Pecos County taxing authorities over the span of the deferment - 20-years.

It helps to actually know something, rather than being a blathering member of the MMEX STRONG, continually making false, unsubstantiated, and unsupportable claims.

The notion of "town governments" "earning tax money" is another clueless statement. In Texas, local government generates the preponderance of its tax revenue through sales and use taxes, motel, hotel, restaurant and franchise fees. In Texas, school districts are the primary taxation authority, followed by county, and special taxation districts, like emergency services.

Further, if an MMEX facility were built, its revenues would not be subject to local taxation. Moreover, a facility like what MMEX proposes would never generate positive revenue or margin - it is well-known, and understood that stand-alone crude units cannot operate at break-even.

Why would he ask for a concession from Fort Stockton when he will through taxes help build a new school? that makes no sense. The tax revenue from this new oil refinery will change the town very quickly while raising the quality of life for its residence. Check out how town governments earn tax revenue. This is big stuff.