Landowners: Beware of State's Severance Tax Proposal - 13.5% Total Ohio Tax to Landowners

The proposed increase to 7% severance tax does not only affect the producer, but also the landowner, unless you are one of the few lucky ones, whose lease shifts the payment to the company.  Tell your state legislators to somehow give landowners a credit or exemption to all or a portion of this increase.  Besides paying state income tax on the untaxed portion, you now must pay a severance tax, basically it would be over 13.5% to the state for your production if you combine the severance tax and the state income tax maximum rate.  Let your legislators know how you feel.  This is to be enacted within 45 days.  Thank you.

Views: 631

Replies are closed for this discussion.

Replies to This Discussion

Permalink Reply by H. Allison on November 5, 2012 at 3:49am

If landowners do not rally together this tax will be enacted if it is not already!!!!

Permalink Reply by Joe Corrado on November 5, 2012 at 1:29pm

*Deleted*

 

Noticed it was a post from March...

Permalink Reply by Frank W. McCafferty on November 7, 2012 at 7:04am

More socialism from the republican governer. Redistribution of wealth!

http://online.wsj.com/article/SB10000872396390443931404577553442255...

RSS

advertisements