Lots of talk here about passing a severance tax here in Pa. But with gas prices low, the rig count has already dropped substantially. If they pass an additional tax of 5% that will have a major impact, especially since that would be 5% of the gross not 5% of the profit. With all the other taxes already paid by companies and their employees, that could be a big blow to the industry. Could even end up that the state would collect less revenue if they pass the new tax.
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Permalink Reply by Philip Thackray on June 25, 2014 at 4:57am Jim,
According to Rig Data there are 72 rigs operating in PA right now. Up from previous weeks.
Phil
Sage59 replied to Rock's discussion 'Any Potential or Known Developments in Trumbull County' in the group Trumbull County, OH
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Rock replied to Rock's discussion 'Any Potential or Known Developments in Trumbull County' in the group Trumbull County, OH
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