Taxes

Ohio Alters Oil, NatGas Reserves Taxation

Ohio’s local collection of the taxes producers pay on their oil and natural gas reserves has changed slightly in a move that could mean increased burdens for some producers that contest the value of their assets and the taxes they must pay on them.

September 2, 2016

Brief — Statoil Taxes

Marshall County, WV, has denied Statoil ASA’s request that a roughly $353,000 property tax overpayment be refunded. Statoil said the overpayment resulted from a clerical error when it used production estimates instead of actual volumes to calculate its 2015 payment. State law does permit refunds for such clerical errors, but the West Virginia Tax Department told county commissioners that the company’s miscalculation was a matter of negligence. The commissioners voted 2-1 last month to deny the refund.

July 5, 2016
Energy Transfer Fires Another ‘Bullet’ at Williams Deal

Energy Transfer Fires Another ‘Bullet’ at Williams Deal

The outlook for the merger of Energy Transfer Equity LP (ETE) and The Williams Companies Inc. dimmed further this week as favorable tax treatment of ETE units and Williams shares was cast into doubt in an ETE regulatory filing.

April 20, 2016
Energy Transfer Fires Another ‘Bullet’ at Williams Deal

Energy Transfer Fires Another ‘Bullet’ at Williams Deal

The outlook for the merger of Energy Transfer Equity LP (ETE) and The Williams Companies Inc. dimmed further this week as favorable tax treatment of ETE units and Williams shares was cast into doubt in an ETE regulatory filing.

April 20, 2016

Pennsylvania Trade Groups Renew Fight Against Wolf’s Proposed NatGas Tax

Pennsylvania’s leading oil and gas trade groups on Wednesday renewed their commitment to fighting Democratic Gov. Tom Wolf’s latest proposal to enact a severance tax on production, saying operators can’t absorb more costs during the downturn and repeating that there can’t be a compromise.

February 10, 2016

West Virginia Senate Advancing Bill to Eliminate Some NatGas Taxes

The West Virginia Senate is moving swiftly toward passing a bill that would terminate volumetric fees that natural gas producers pay in addition to the state’s severance tax.

February 8, 2016
Pennsylvania Governor Lowers NatGas Tax Proposal Ahead of House Debate

Pennsylvania Governor Lowers NatGas Tax Proposal Ahead of House Debate

The Pennsylvania House on Wednesday struck down by a wide margin Democratic Gov. Tom Wolf’s proposal to enact a 3.5% severance tax on unconventional natural gas production, a move that could effectively end the proposal.

October 7, 2015

Fight Over Higher Oil Taxes Heats Up in California

In a recurring tug-of-war that the oil/natural gas industry has been fighting for years, shots were heard in recent days in California’s annual battle over whether to increase taxes on oil production.

December 5, 2014

Consensus Building for New Ohio Oil, Gas Tax

The second of several legislative hearings scheduled for the coming weeks on a modest increase in Ohio’s oil and gas severance tax was well received by members of Ohio’s House and Ways Committee, who heard from supporters of the proposal on Wednesday.

January 9, 2014

Renewed Effort for Oil/NatGas Severance Tax in California

A former hedge fund billionaire and environmental activist is attempting to stir new life into a so-far failed state legislative and ballot initiative effort to impose a severance tax on oil and natural gas production in California, the only fossil fuel-producing state without some sort of production tax.

December 24, 2013