severance tax

Noun

Meaning

severance tax (countable and uncountable, plural severance taxes)

(US) A state tax on the extraction of nonrenewable natural resources (such as minerals, petroleum, or natural gas) that will be used in another state.

Source: en.wiktionary.org

Synonyms

octroi income tax capital gains tax sales tax ad valorem tax

Examples

“Carmichael said raising the severance tax on natural gas could cause West Virginia to be less competitive than its neighbors, Ohio and Pennsylvania,” reported the West Virginia MetroNews. Source: Internet

Long story short; at the “spot price” of $2.67 per Mcf, West Virginia receives four times more income from severance tax than Pennsylvania, and five times more than Ohio. Source: Internet

The severance tax money will hurt local governments that rely on those dollars to pay for local projects, a move that led the Colorado Municipal League to express concern about the budget bill. Source: Internet

Wagner even conspired with Republican leaders to kill a severance tax in order to hurt Gov. Wolf’s re-election chances and help himself. Source: Internet

The severance tax is already popular in the Philly suburbs and no one ever alienated suburban voters by cozying up to eco-friendly bills. Source: Internet

Close letter words and terms

severance agreement severance pay severance payment severation severaunce severe