Texas could lose an estimated $4.4 billion in revenue from oil and gas sales taxes, depending on how a district court judge tailors his ruling on exempting oil and gas companies from paying the state sales taxes on extraction equipment.
Exempting
Articles from Exempting
Missouri Eliminates Sales Tax on Natural Gas for Manufacturers
Missouri Gov. Matt Blunt last week signed legislation exempting manufacturers from state sales taxes on electricity, natural gas, water, coal and other utility commodities/services in addition to chemicals used in manufacturing processes. The exemption extends to machinery, equipment and materials used for research and development related to manufacturing.
June 18, 2007
Missouri Eliminates Sales Tax on Natural Gas for Manufacturers
Missouri Gov. Matt Blunt Wednesday signed legislation exempting manufacturers from state sales taxes on electricity, natural gas, water, coal and other utility commodities/services in addition to chemicals used in manufacturing processes. The exemption extends to machinery, equipment and materials used for research and development related to manufacturing.
June 15, 2007
GAO Says Royalty Relief to Cost At Least $20B, and Much More if Producer Wins Lawsuit
Federal measures exempting oil and natural gas producers active in the prodigious Gulf of Mexico from royalties could deprive the U.S. Treasury of a minimum $20 billion in lost revenues over the next two decades or more, according to information contained in a preliminary government report that was obtained by the New York Times.
March 30, 2006
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