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Tag Archives: severance tax

Accountants favor gas extraction tax

A majority of accountants in Pennsylvania agree that imposing a gas extraction tax is one of the best ways to solve the state’s fiscal deficit, according to the third annual Certified Public Accountant Poll. The poll, conducted by the Pennsylvania Institute of Certified Public Accountants, reports that 67 percent of the accountants surveyed agree that enacting Gov.-elect Tom Wolf’s proposed ...

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Wolf’s $1B drilling tax prediction might be high

Gov.-elect Tom Wolf might have been off the mark by hundreds of millions of dollars when he said during his campaign that a new severance tax on natural gas drillers would raise more than $1 billion, potentially complicating his bid to secure new funding for Pennsylvania schools and alleviate a severe budget shortfall. The Democrat is pushing a 5 percent ...

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Gas industry expert: Governor-elect Wolf shouldn’t tax natural gas

If Pennsylvania wants to continue to benefit economically from its Marcellus Shale natural gas boom, it should avoid slapping drillers with a severance tax. That’s the warning issued by John Felmy, chief economist with the American Petroleum Institute, who visited Palmer Township Friday to address a meeting of the Lehigh Valley Tea Party. “We entice industries to come to us ...

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Penn. groups prepare to fight severance tax

With the elections over and Democrat Tom Wolf elected as governor, Pennsylvania is expected to increase its efforts to combat the various oil and gas severance tax proposals that may be lurking on the horizon, reports the Pittsburgh Business Times. Lou D’Amico, president and executive director of the Pennsylvania Independent Oil & Gas Association, said, “There is no doubt that ...

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States lower energy taxes to attract business as production thrives

cuttinup

Shane Thielges | Shale Plays Media A new report has found that state tax rates on fossil fuel extraction have stayed consistent or even fallen since the hydraulic fracturing boom began, despite rising profits for the energy sector. U.S. News and World Report says the report’s authors, Barry Rabe and Rachel Hampton of the University of Michigan’s Center for Local, ...

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Public’s support for gas tax is misguided, Corbett says

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Shane Thielges | Shale Plays Media Pennsylvania’s governor Tom Corbett says his constituents are mistaken if they think a tax on natural gas extraction would benefit the state. The governor’s comments followed poll results, released this week by the University of Michigan, that showed strong support for a severance tax on gas extraction among Pennsylvania’s population. The poll also found almost ...

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Ohio fracking tax rate at 2.5% in revised bill

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Jim Siegel for The Columbus Dispatch Gov. John Kasich had proposed a top severance tax rate on horizontal fracking of 2.75 percent, while House Republicans were at 2.25 percent. Perhaps not surprisingly, the latest version of the bill would set the rate at 2.5 percent. “I’ve tried to get it in the best shape possible, but I wouldn’t be surprised ...

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Keeping Ohio competitive with other shale states

Ohio Governor John Kasich

Editorial – Salem News Gov. John Kasich’s plan to drill into Ohio’s gas and oil industry for new revenue remains controversial. His budget analysts and those working for the General Assembly differ substantially on how much money could be raised. But whichever estimate is accepted, the amount is enormous. Legislative analysts say the 2.25 percent severance tax the state House ...

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