Kasich seeks higher oil and gas severance taxes
Thursday, February 9, 2017
Ohio Governor John Kasich will try to boost oil and gas severance taxes again, seeking a $3.1 billion increase in sales and other taxes in a two-year state budget proposal. According to ShaleOhio, the move is meant to cover a 17 percent income tax cut.
Ohio’s severance tax would increase to 6.5 percent for crude oil and natural gas at the wellhead and 4.5 percent in later processing stages under the $66.9 billion budget proposal.
Although Kasich has been pushing for increased taxes on hydraulic fracturing for a while, Republican lawmakers have rejected the tax hikes, fearing production decreases.
Learn more: ShaleOhio > Kasich tries again to boost oil and gas severance tax rates
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