Severance Taxes

A Conversation On Tax Revenues From Coal, Natural Gas

On this episode of The Legislature Today, higher demand for coal and natural gas, as well as higher prices, produced a severance tax windfall for the state over the past few years. But prices have fallen, and with it, tax revenues. To get a better idea of where things stand, Curtis Tate spoke with Kelly Allen, executive director of the West Virginia Center on Budget and Policy.

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Severance Tax Shortfalls Could Challenge Record Budget Surplus Numbers

Decreases were expected in personal income tax revenues - and in severance taxes relating to a fluctuating coal, gas and oil market.

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W.Va. Sets Record With Fiscal Year-End Surplus, Results Questioned

The release noted that at the close of the fiscal year, June 30, 2023, at midnight, total collections for the revenue year will come in at approximately $6.5 billion – 10 percent ahead of prior year adjusted collections – marking the first time in state history that final collections for a single year have exceeded $6 billion.

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From Appalachia To Wyoming: Youth From Coal Country Discuss The Future After Coal

This decline has left coal communities reckoning with their future. And it’s why the Ohio Valley ReSource, with our partners at America Amplified and Wyoming Public Media, wanted to convene a group of young people from these two regions. Each participant submitted photos that showcased their community. While flipping through these images, we discussed stereotypes, community and the ways the coal industry impacts our lives. While bonded by coal, the two regions have taxed and benefited from the industry in vastly different ways, and that could determine how they fare after coal’s decline.

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