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Entries in Taxes (2)

Tuesday
May022017

Trump Open to Raising Gas Tax, Says Truckers Back Higher Price for Highways

Transport Topics

May 2, 2017

President Donald Trump said he’s willing to raise the U.S. gas tax to fund infrastructure development and called the tax-overhaul plan he released last week the beginning of negotiations.

“It’s something that I would certainly consider,” Trump said May 1 in an interview with Bloomberg News in the Oval Office, describing the idea as supported by truckers “if we earmarked money toward the highways.”

Trump released a tax plan April 26 that would cut the maximum corporate tax rate to 15% from the current 35%. The same reduced rate would apply to partnerships and other “pass-through” businesses

He said he is willing to lose provisions of his tax plan in negotiations with Congress but refused to specify which parts. He also repeated his call for a “reciprocal tax,” which would be aimed at imposing levies on imports to match the rates that each country charges on U.S. exports.

Read on...

Tuesday
Oct082013

Unconventional Oil and Natural Gas Production Tax Rates: How Does Oklahoma Compare to Peers?

Headwater Economics in Conjunction with Oklahoma Policy Institute

August 2013

This report compares Oklahoma’s oil and natural gas tax policies to other leading oil and natural gas producing states. Oil comparison states are Colorado, Montana, New Mexico, North Dakota, Texas, and Wyoming. Natural gas comparison states are Arkansas, Louisiana, New Mexico, Pennsylvania, Texas and Wyoming.

Analysis applies state tax policies to average production data for typical unconventional oil and natural gas wells to determine comparable effective tax rates. Both unconventional oil and natural gas wells typically feature high initial rates of production that decline steeply and quickly, and eventually stabilize at relatively low levels. The respective production profiles for unconventional oil and natural gas wells are consistent enough across shale plays to offer a sound basis for comparing how states tax policies raise revenue from these new resources.