A quantitative description of state-level taxation of oil and gas production in the continental U.S |
| |
Affiliation: | 1. University of Zurich, 203, Rämistr. 66, CH-8006 Zürich, Switzerland;2. Brunel University London, Uxbridge UB8 3PH, United Kingdom;3. European Central Bank, Kasiserstr. 29, D-60311 Frankfurt, Germany;1. Federal Reserve Bank of Richmond, United States;2. University of Maryland Baltimore County, United States;3. University of Delaware, United States |
| |
Abstract: | We provide a quantitative description of state-level taxation of oil and gas production in the continental U.S. for 2004–2013. Aggregate revenues from production taxes nearly doubled in real terms over the period, reaching $10.3 billion and accounting for 20% of tax receipts in the top ten revenue states. The average state had a tax rate of 3.6%; nationally, the average dollar of production was taxed at 4.2%. The oil-specific rate estimated for the study period is $2.4 per barrel or $5.5 per ton of carbon. Lastly, state-level tax rates are two-thirds higher in states excluding oil and gas wells from local property taxes, suggesting that the policies are substitutes for one another. |
| |
Keywords: | State policy Oil and gas taxation Effective rates |
本文献已被 ScienceDirect 等数据库收录! |
|