Pennsylvania natural gas tax revenue exceeds $2.5M
Thursday, June 22, 2023
Since 2012, Pennsylvania’s natural gas impact tax has provided more than $2.5 billion, dispersed across the state’s 67 counties, according to Pennsylvania Business Report.
This year Pennsylvania’s natural gas impact tax will generate $278 million — the highest yearly return on record, according to Pennsylvania’s Public Utility Commission. This year’s revenue is nearly $44 million more than last year.
More than $155 million of this year’s revenue will be distributed to local governments, $103 million will be set aside for statewide environmental programs and nearly $20 million will go to state agency oversight, which includes $6 million for the Pennsylvania Department of Environmental Protection, $1 million for the Fish & Boat Commission, $1 million for the Pennsylvania Department of Transportation for rail freight assistance and $1 million to the Pennsylvania Public Utility Commission.
Learn more: Pennsylvania Business Report > Natural Gas gas revenue exceeds $2.5M, funds critical programs
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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.