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Tuesday, December 24, 2013

The Debate Continues on Proposed Severance Tax in Ohio

From The Intelligencer/Wheeling News-Register:
Industry leaders believe changing the way Ohio collects severance taxes for oil and natural gas production will promote more fracking in the state's vast Utica Shale field.
According to supporters of the measure introduced in the Ohio House this month, it could also lead to a break for those paying income tax in the Buckeye State by raising up to $1.7 billion over 10 years.
"We believe this will provide some much needed clarity for those who have invested in our state," Penny Seipel, vice president of public affairs for the Ohio Oil and Gas Association. "Some people are hesitant to invest because they are not sure about the tax rates."
Read more about this story here. 

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