Recent oil and gas tax proposals in the states

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Associated Press

Posted on October 3, 2012 at 10:33 AM

Updated Wednesday, Oct 3 at 11:02 AM

The status of some states' proposals to change oil and gas severance taxes since 2011:

— ALASKA: Governor's proposed oil tax cuts failed to gain approval.

— FLORIDA: Oil production taxes reduced to offset technological costs of extraction.

— IDAHO: Replaced an existing oil tax with a 2.5 percent conservation tax on the market value of all oil and gas produced.

— MARYLAND: Two proposals to raise the natural gas severance tax died.

— MISSISSIPPI: Proposal died that would have changed the way oil taxes are distributed at the state and county levels.

— NORTH CAROLINA: Environmental agency ordered to study economic and tax implications of oil and gas exploration.

— NEW MEXICO: Proposed increases on oil and gas production died.

— OHIO: Governor's proposed severance tax increase on oil, natural gas and natural gas liquids is in negotiation as session continues.

— OKLAHOMA: Changed tax exemptions on new horizontally drilled and deep wells.

— PENNSYLVANIA: Attempts to craft a new production tax on natural gas failed to gain approval, as lawmakers opted to impose impact fees instead.

— VIRGINIA: A proposal to retroactively enact local notification and appeals provisions for coal, gas and road improvement taxpayers back to 2008 fizzled.

— WEST VIRGINIA: Tax increase on natural gas failed to gain approval, but permit fees were raised.

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Sources: National Conference of State Legislatures, AP research

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