Taxation of oil and gas revenues: the United States

Journal Article · Thu Apr 01 00:00:00 EST 1982 · Energy J.; (United States)

OSTI ID:5136930

Verleger, Jr, P K

The taxation of producers of natural resources in the United States is accomplished by a combination of ordinary-income taxation and ad valorem or severence taxes on the removal price of the resource. Taxes are imposed by both the federal and local governments. The federal government imposes both income and ad valorem taxes on the production of resources. State governments generally impose severance taxes based on the value of the resource removed. In addition, some states impose income taxes on the portion of income earned by a producer in the specific state. Recently, there have been serious disputes between resource-producing states and resource-consuming states over changes in state severance taxes. 3 references.

• Research Organization: Booz, Allen, and Hamilton, Inc., Bethesda, MD
• OSTI ID: 5136930
• Journal Information: Energy J.; (United States), Vol. 3:2
• Country of Publication: United States
• Language: English

Related Subjects

29 ENERGY PLANNING
POLICY AND ECONOMY
02 PETROLEUM
03 NATURAL GAS
NATURAL GAS INDUSTRY
FINANCIAL INCENTIVES
TAXES
PETROLEUM INDUSTRY
USA
INCOME
WINDFALL PROFITS TAX
INDUSTRY
NORTH AMERICA
294002* - Energy Planning & Policy- Petroleum
294003 - Energy Planning & Policy- Natural Gas
020700 - Petroleum- Economics
Industrial
& Business Aspects
030600 - Natural Gas- Economic
Industrial
& Business Aspects