House Bill 2673 Proposed Severance Tax

i just read through the 28 page proposed bill. As I studied the bill it occurred to me that I could not locate a protection for royalty owners. The protection I am looking for is one which prohibits Oil & Gas Companies from passing the tax along as a deduction against the royalty owner. In essence, my view, is that if this were done it would be a “staked” or double taxation since we all ready must pay the 3.07% income tax on the royalties we receive. 

If if I missed a line then I would enjoy being corrected.

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Permalink Reply by Nancy Mosley on September 27, 2018 at 3:44am

What state is this?

Permalink Reply by Bullfrex on September 27, 2018 at 8:07am

I would guess that if this Bill passes in PA, the rights' owner will indeed pay their pro-rata share of any severance tax. 

Permalink Reply by Bill on September 28, 2018 at 1:35am

I'll have to check my original lease, but I believe there is a clause that states exactly that.

Permalink Reply by John Capwell on September 27, 2018 at 10:05am

Pennsylvania

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