On October 22, 2015, a General Assembly workgroup issued its report to the Ohio 2020 Tax Policy Study Commission on oil and gas severance taxes. Noting that the industry is facing significant economic challenges, the report does not recommend severance tax legislation at this time so as not to discourage oil and gas activity. It does, however, focus on information that could be used to inform the ongoing discussion of a future severance tax adjustment – including pointing out that, contrary to the basis of previous severance tax proposals, Ohio Utica production has been primarily of natural gas and not oil. For more, see here.
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