House Bill Proposes Gas Severance Tax
Posted by George on 19 May 2009 | Tagged as: Legislation, Taxes
On May 13th House Bill 1489 was introduced representing the administration’s proposal for a Pennsylvania gas severance tax of 5% of the gross value of gas severed at the wellhead plus 4.7 cents per one thousand cubic feet of gas severed. The Bill sets forth requirements for monthly payment periods, measurement criteria, metering, registration with the Department of Revenue, application fees, recordkeeping, liens, interest, penalties, bonds to secure payment by nonresident entities, and the adoption of regulations. You can review the Bill by clicking here.
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