Texas severance tax: a closer look at oil production

Journal Article · Fri Jun 01 04:00:00 EDT 1984 · Oil Gas Tax Q.; (United States)

OSTI ID:6485236

Licata, M P; Emig, J M

The State of Texas, like several other oil-producing states, has had a tax on the production of oil since the early 1900s. This tax is levied on the production of oil rather than the sale or transfer of oil. While the Texas severance tax rate is one of the lowest in the country, the tax comprises approximately 21 percent of the revenue on the state budget. A prior article discussed in general terms the severance tax as it applies to natural gas production, and to some degree to oil production. This article describes in detail how Texas severance tax affects oil producers. Topics discussed include the history of the tax, the basis of the tax, liability for the tax, and reporting considerations.

• Research Organization: Villanova Univ., PA
• OSTI ID: 6485236
• Journal Information: Oil Gas Tax Q.; (United States), Journal Name: Oil Gas Tax Q.; (United States) Vol. 32:4; ISSN OGTQD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000* -- Petroleum-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
Legislation
& Regulation
294002 -- Energy Planning & Policy-- Petroleum
ENERGY SOURCES
FEDERAL REGION VI
FOSSIL FUELS
FUELS
HISTORICAL ASPECTS
INDUSTRY
LEGAL ASPECTS
NORTH AMERICA
PETROLEUM
PETROLEUM INDUSTRY
PRODUCTION
REPORTING REQUIREMENTS
SEVERANCE TAX
TAXES
TEXAS
USA