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Severance taxes are taxes imposed on the removal of natural resources within a taxing jurisdiction. Severance taxes are most commonly imposed in oil producing states within the United States. Resources that typically incur severance taxes when extracted include oil, natural gas, coal, uranium, and timber. Some jurisdictions use other terms like gross production tax.
Note that severance taxes are used in jurisdictions where most resource extraction occurs on privately owned land and/or where sub-surface minerals are privately owned (for example, the United States).[1][2] Where the resources are publicly owned to begin with (for example, in most Commonwealth and European Union countries), it is not a tax but rather a resource royalty that is paid. In the case of the forestry industry, this royalty is called "stumpage".
^Brad Bumsted and Andrew Conte, "'Historic' severance tax goes before Pennsylvania House", The Pittsburgh Tribune-Review, Sep. 29, 2010; retrieved December 5, 2013
^Severance tax, retirement fund debated on Dialogue, The Deseret News - Feb 26, 1983, Retrieved December 5, 2013
Severancetaxes are taxes imposed on the removal of natural resources within a taxing jurisdiction. Severancetaxes are most commonly imposed in oil producing...
Look up Severance or severance in Wiktionary, the free dictionary. Severance may refer to: Severance (film), a 2006 British horror film Severance (novel)...
that severance pay is not subject to FICA taxes, but it was overturned by the Supreme Court in March 2014. Employers are required to pay severance pay...
the revenue to the state's general fund. The balance in New Mexico's SeveranceTax and Land Grant Permanent Funds, the earnings from which are dedicated...
inheritance, gift, and severancetaxes ^ As of July 1, 2012 State taxes: Sales taxes in the United States State income tax Federal: Income tax in the United States...
Geolibertarianism Georgism Green politics Jet fuel tax Land value tax Market governance mechanism Pigovian taxSeverancetax "Environmental Taxation A Guide for Policy...
property tax, but companies must pay a gross products tax on minerals and a severancetax on mineral production. Wyoming does not collect inheritance taxes. There...
external costs of pollution more efficiently than litigation, as well as severancetaxes on raw material extraction to regulate the depletion of unreplenishable...
Taxaccord and Second Decimal. Ryan LLC acquired EnerTax Consultants to expand its severancetax practice in September 2015. In 2016, the company acquired...
A severancetax is an article of legislation that imposes a tax on the extraction of natural resources. In the United States, California is the only state...
continued to push for a natural gas severancetax. Earlier in 2017, the governor had proposed a 6.5% severancetax on natural gas production. In Pennsylvania...
types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance...
quarterly for inflation and state severancetaxes." In a February 12, 2008, editorial titled "Record Profits Mean Record Taxes", Investor's Business Daily said...
State taxes narrowly targeting mineral production include severancetaxes, mining license taxes, and extraction excise taxes. Extraction taxes on gold...
A poll tax, also known as head tax or capitation, is a tax levied as a fixed sum on every liable individual (typically every adult), without reference...
Tax withholding, also known as tax retention, pay-as-you-earn tax or tax deduction at source, is income tax paid to the government by the payer of the...
income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income)...
under West Virginia law. Funding comes from a 25% natural gas and oil severancetax. Under the law, only the interest and other income will be spent, while...
Fund (LGPF), which was established upon statehood in 1912, and the SeveranceTax Permanent Fund (STPF), which was created in 1973 during the oil boom...
upon it. It is also known as a location value tax, a point valuation tax, a site valuation tax, split rate tax, or a site-value rating. Some economists favor...
A capital gains tax (CGT) is the tax on profits realized on the sale of a non-inventory asset. The most common capital gains are realized from the sale...
fuel tax (also known as a petrol, gasoline or gas tax, or as a fuel duty) is an excise tax imposed on the sale of fuel. In most countries the fuel tax is...
A corporate tax, also called corporation tax or company tax, is a type of direct tax levied on the income or capital of corporations and other similar...
alphabetically, with total tax revenue as a percentage of gross domestic product (GDP) for the listed countries. The tax percentage for each country...
are within the law. A tax shelter is one type of tax avoidance, and tax havens are jurisdictions that facilitate reduced taxes. Tax avoidance should not...
Colorado's severancetax. It was turned down by 57.9% of the voters. The initiative stated that Amendment 58 would: "increase the amount of state severance taxes...
quarterly for inflation and state severancetaxes." The 96th United States Congress was motivated to enact the tax by several factors: The Congress was...
In a tax system, the tax rate is the ratio (usually expressed as a percentage) at which a business or person is taxed. The tax rate that is applied to...
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