Gubernatorial Frontrunner Proposes Severance Tax
Friday, September 6, 2013
Pennsylvania’s democratic gubernatorial frontrunner, U.S. Rep. Allyson Schwartz, announced she would impose a 5 percent severance tax on Marcellus Shale production, according to StateImpact Pennsylvania.
Read it:
“Schwartz told reporters on a conference call that her plan for what she called a “reasonable, fair, moderate tax” would generate $612 million this year and nearly triple to $2 billion in about 10 years. She said she wants to use the money to invest in education and transportation infrastructure.”
Schwartz isn’t the only candidate making a severance tax proposal. Candidates John Hanger and Katie McGinty also call for more taxes.
Republican Governor Tom Corbett has said there’s no need for additional taxes on the oil and gas industry.
» Via: StateImpact Pennsylvania › Democratic Frontrunner for Governor Proposes Severance Tax On Shale Gas
Leave a Comment
Marcellus & Utica Shale Well Map
Additional Shale Maps
Shale FAQ
How often do royalty payments come?
Depending on the company, royalty payments can arrive monthly or quarterly.
Are my royalty payments transferable?
Yes. If you plan on selling your property, notify the gas company that is leasing your land and your realtor. They will make arrangements to allow the royalty payments to transfer to a different land owner.
What are royalties?
Royalties are payments from the gas company to the landowner as part of a lease agreement. Royalties payments cannot begin until production begins. The payments are dependent upon the market price of the resource.