severance tax


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severance tax

n.
A tax imposed by a state on the extraction of natural resources, such as oil, coal, or gas.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

sev′erance tax`


n.
a tax levied by a state on the extraction and use of a natural product, as coal, that is sold outside the state.
[1925–30]
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
References in periodicals archive ?
But the funding mechanism to pay for Restore Pennsylvania would come from a new severance tax on a different part of the natural gas industry, the part that extracts the gas from deep within the ground.
Snead said the goal of the assessment was to prove to policymakers the idea that the industry receives preferential treatment, primarily due to the severance tax, is false.
This May 2018 distribution includes a true-up of estimated versus actual revenue and severance tax numbers for the August 2017 production month.
27 December 2016 - Dallas, Texas-based tax services firm Ryan has acquired Houston, Texas-based severance tax consulting firm Shiv Om Consultants, the company said.
Couch works with Sheffield Nelson, the former natural gas company executive and Republican gubernatorial nominee, on an initiated act to increase the state's severance tax on natural gas to raise money for roads.
He has also sponsored legislation to levy a severance tax on gas production but said a transmission fee could cover turnpike costs and generate far more revenue than a severance tax would, according to published reports.
That's just below the $30 threshold to shave 25 percent off a small producer's severance tax bill.
The report outlines the US's governing bodies, governing laws, mining ownership licenses, rights and obligations and key fiscal terms which includes, Bonus, Rentals, Federal Reclamation Fee, Occupation Tax, Royalty, Mining Claim Fees, State Fees, State Mineral Resources Severance tax and fees, State Real Property Tax, Corporate Taxes, Alternative Minimum Tax, Capital Gains Tax, Deductions and Allowances, Depreciation, Branch Profit Tax, Withholding Tax, Loss Carry Forward and VAT.