Production Taxes

Production Taxes

Taxes levied by state governments on the value or quantity of production or extraction of natural resources.
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February gross receipts show increases in collections from individual income, sales, and gross production taxes.
While oil and gas production taxes are one of its main sources of revenue, the Legislature can also add any surplus in the state budget to the fund - though there hasn't been a surplus in more than a decade.
It was estimated to bring in $500 million to the state, $400 million of that in reduced and deferred tax credit spending and $100 million in additional oil production taxes.
But industry body Oil and Gas UK said: "Despite the projected fall in production taxes, the industry will remain a significant employer, provider of energy security, hub of innovation and leader in exports.
Benjamin Bridgman, an economist at the Bureau of Economic Analysis, recently explored this issue in a recent study, taking a look at the role of depreciation and production taxes.
JKX Oil & Gas said it would substantially reduce its capital expenditure to offset the impact of higher production taxes introduced by the Ukrainian government last month.
The utility giant said higher wholesale prices, weak consumption and higher North Sea production taxes will all hit its financial performance.
6, provides operator and equity details for major exploration and production assets, as well as 5-year forecasts of production, gross revenues and total government revenues from the fields such as royalties, profit shares and production taxes for active, commercial oil and gas fields in Cuba.
Gas production taxes are projected to drop 29% with oil production tax revenues forecasted at zero.
The plan would increase gross production taxes to 5 percent during the incentive period, and it would maintain the 36-month duration.
7billion in production taxes - more than any other sector - in 2013-14 Malcolm Webb, head of trade body Oil and Gas UK, said: "The Chancellor is well informed of industry's current the situation and I trust he will do the right thing for this sector and for the
The win-win for Alaska is to increase new and old oil production, resulting in increased royalties, state corporate tax, property taxes, and production taxes.

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