Independent Fiscal Office Reports PA Marcellus Tax Rates Lowest Of Any State
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The Independent Fiscal Office Thursday issued a report comparing state and local taxation rates of natural gas producing states that found Pennsylvania had the lowest natural gas extraction taxation rates of any state, nearly one-third the rates in Texas. The analysis included severance taxes as well as a discussion of corporate income, personal income, sale and use and tangible personal property taxes. The report found Pennsylvania’s effective tax rate is 1.6 percent, followed by Ohio at 1.8 percent, North Dakota at 2.5 percent, Louisiana at 2.6 percent, Virginia at 3 percent, Oklahoma at 3.9 percent, Arkansas at 4.2 percent, Texas at 4.6 percent, Colorado at 5.6 percent, Michigan at 5.9 percent and West Virginia at 7.2 percent. A copy of the report is available online. Click Here for highlights from the report. NewsClips: IFO Report: Impact Fee On Gas Wells Losing Value Report: PA At The Bottom For Gas Drilling Taxes Analysis Finds PA Shale Gas Tax Rate Among Lowest Study: PA Shale Gas Fees Lowest Among 11 States Op-Ed: Common Approach To Taxing Shale Drilling Indiana County Spreads Marcellus Funds Among Services |
3/24/2014 |
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