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      • Severance tax is a state tax imposed on the extraction of non-renewable natural resources that are intended for consumption in other states. These natural resources include such as crude oil, condensate and natural gas, coalbed methane, timber, uranium, and carbon dioxide.
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      Severance Tax: What it Means, How it Works - Investopedia

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  3. www.investopedia.com › terms › sSeverance Tax: What it Means, How it Works - Investopedia

    Sep 17, 2020 · Severance tax is a state tax imposed on the extraction of non-renewable natural resources that are intended for consumption in other states. These natural resources...

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  4. www.taxpolicycenter.org › briefing-book › how-doHow do state and local severance taxes work? | Tax Policy Center

    Severance taxes are taxes on the extraction of natural resources such as oil and natural gas. State and local governments collected a combined $11.8 billion in revenue from severance taxes in 2021.

  5. www.supermoney.com › encyclopedia › severance-taxSeverance Tax: Definition, Calculation, and Examples

    Mar 8, 2024 · What natural resources are subject to severance tax? Severance tax is imposed on the extraction of non-renewable natural resources, including crude oil, condensate, natural gas, coalbed methane, timber, uranium, and carbon dioxide.

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  7. en.wikipedia.org › wiki › Severance_taxSeverance tax - Wikipedia

    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.

  8. www.dwenergygroup.com › understanding-severance-taxUnderstanding Severance Tax | DW Energy Group

    Jul 17, 2023 · A severance tax is a state tax on the extraction and production of non-renewable natural resources, particularly those intended for consumption in other states. This tax applies to resources like crude oil, uranium, and methane.

  9. www.ncsl.org › energy › state-oil-and-gas-severanceState Oil and Gas Severance Taxes - National Conference of ...

    Sep 6, 2018 · Tax Type: Natural Resources Severance and Processing Tax. Tax Description: Gas severance tax rate adjusted annually and never to be less than 7 cents per 1,000 cubic feet: Full Rate (July 1, 2018 to June 30, 2019): $0.122; Low-producing oil-well gas: $0.013; Low-producing gas-well gas: $0.013; Produced water-full rate (July 1, 2012 to June 30 ...

  10. www.pheasantenergy.com › severance-taxWhat is Severance Tax and How Is It Calculated? - Pheasant Energy

    Dec 13, 2022 · What is a severance tax? A severance tax is a state tax that is often imposed due to the extraction and production of non-renewable natural resources, which are intended for consumption in another state. Some of these natural resources include uranium, crude oil, and methane.

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