Recently this blog has analyzed various aspects of HB 59, including Ohio Governor John Kasich’s relaunched severance tax proposals. Expanding on the tax implications of HB 59, BakerHostetler’s Tax Group has prepared a comprehensive summary of the Governor’s overall budget and tax proposals. This analysis provides very helpful context to Gov. Kasich’s proposed severance taxes on new,… Continue Reading
Category Archives: Tax
Subscribe to Tax RSS FeedOhio Governor Relaunches Severance Tax Plan In Budget Proposal
Posted in Hydraulic Fracturing, Legislative, Ohio DNR, Ohio EPA, TaxYesterday Ohio Governor John Kasich unveiled his proposed budget for fiscal years 2014 and 2015 at an hour-long press conference. The Governor’s proposal, a summary of which can be found here, contained a comprehensive plan to enact new severance taxes for certain categories of new hydraulically fractured horizontal wells in the state. By way of background,… Continue Reading
Legislators In Ohio General Assembly Propose Numerous New Shale Bills As Close Of Session Nears
Posted in Disposal Wells, Groundwater, Hydraulic Fracturing, Land Use, Legislative, Ohio DNR, Tax, WaterThe Ohio General Assembly closes its two-year term later this month. The waning days of the term, falling between the November election and the end of the year, are known as the “lame-duck” session. During this session, legislators have introduced a flurry of bills relating to hydraulic fracturing and shale gas drilling. Many of these… Continue Reading
Pennyslvania Legislature Proposes Shale Tax Credits
Posted in Legislative, TaxThe Pennsylvania General Assembly introduced legislation on Monday, May 21 that would establish and implement a Marcellus Shale Job Creation Tax Credit. Specifically, House Bill 2399 would designate $25 million each fiscal year to the Department of Community and Economic Development (DCED)for the Marcellus Shale Job Creation Tax Credit. A company would be eligible to receive the… Continue Reading
Ohio Legislators Remove Severance Tax Provisions From Budget Bill
Posted in Legislative, TaxIn response to Ohio Governor John Kasich’s proposal last week to implement a severance tax on oil and gas production, leaders of Ohio’s state legislature last week announced their intent to adopt a substitute measure excluding the severance tax provisions from the proposed mid-biennial budget review bill. Republican State Rep. Ron Amstutz, chairman of the House Finance… Continue Reading
Kasich To Fund Ohio Income Tax Cut with Tax Increase on Oil & Gas
Posted in Legislative, TaxOhio Governor John Kasich announced today that he plans to “change Ohio’s severance tax for oil and gas production” in his Midterm Budget Review Bill and use the additional revenue to fund an across-the-board income tax cut. The current severance tax is 20 cents on a $107 barrel of oil and 3 cents per $2.62… Continue Reading