Taxation of Oil/Gas Production and Resources

Federal Tax Subsidies

Eliminating Subsidies and Exemptions for Oil/Gas Industry Citizens Campaign for the Environment 2010

What Oil and Gas Companies Extract from the American Public It’s Time to End Unjustified Tax Loopholes for Oil and Gas Companies

Eliminating Tax Subsidies for Oil Companies–2011 Federal Budget

Robert Pirog. Oil Industry Tax Issues in the Fiscal Year 2011 Budget Proposal. Mar. 24, 2010; Congressional Research Service 7-5700. CRS Report for Congress.  (CRS Reports are not routinely made public)

CRS Report R41139 – Oil Industry Tax Issues in the Fiscal Year 2011 Budget Proposal – NLE Abstract.

Energy Tax Policy: Issues in the 111th Congress, Molly F. Sherlock. Analyst in Economics, Donald J. Marples
Section Research Manager. September 20, 2010. Congressional Research Service. 7-5700 www.crs.gov
R40999R40999.pdf (application/pdf Object)
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Turn off the Big Oil Spigot

Big Oil’s Good Deal NYT July 2010

As Oil Industry Fights a Tax, It Reaps Subsidies NYT July 4, 2010

Mason study of Economic Impact of Repealing Gas Tax Subsidies 2010

Jim Hightower, New Outrages Keep Gushing From BP Aug, 2010  (How Taxpayers will pay for 35% of  Oil Industry Losses including cleanup)

Severance Taxes

Taxing Debate, Pittsburgh City News. Sept. 2, 2010

Bogle Testimony PA Severance Tax Hearing

Missing Tax Revenue in PA  http://thetimes-tribune.com/news/group-pennsylvania-missing-54m-in-tax-revenue-from-natural-gas-production-1.831835

Proposed Tax Breaks for Natural Gas Industry Are Bad Deal for Pennsylvanians

PA Tax Subsidies

NY Tax on Gas Production

NEW YORK STATE OFFICE OF REAL PROPERTY SERVICES MANUAL

Quick summary of gas production taxation:

NYS Office Real Property Service sets up yearly a dollar amount for value of gas; local tax authorities then apply that to reported production in the following way: the calculated value of the gas is treated as a real estate entity and taxed locally accordingly. Ex: $1 mil of gas = a $1mil house property.

About 60% goes to schools and 40% to Town and County same way as for other real estate taxes. The State gets nothing directly but local $ may reduce need for “state aid”).

Production amounts are (currently) as reported by companies to NYS and are not audited.

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