Beaver County Times – Pennsylvania and Ohio should be more like West Virginia — at least in terms of a severance tax on oil and gas, some policymakers and legislators say. Read
Officials from Policy Matters Ohio, the Pennsylvania Budget and Policy Center and the West Virginia Center on Budget & Policy are arguing that both Ohio and Pennsylvania should adopt a severance tax on oil and gas no lower than that of West Virginia’s, which has a production based-tax of 5 percent of the gross value of the natural gas coming out of the wellhead and a value-based tax of 4.7 cents per thousand cubic feet (MCF) of gas produced.
The groups also want the tax “without holidays, exclusions and credits, and with a similar tax base across all products yielded from a well.”
We have a great newsletter, join below: