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Historically, coal generated the bulk of severance taxes. But the advent of hydraulic fracturing, or fracking, gave gas the advantage.
Continue Reading Take Me to More NewsOn 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.
Continue Reading Take Me to More NewsDecreases were expected in personal income tax revenues - and in severance taxes relating to a fluctuating coal, gas and oil market.
Continue Reading Take Me to More NewsThe 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.
Continue Reading Take Me to More NewsThis 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.
Continue Reading Take Me to More NewsWest Virginia lawmakers have gathered in Charleston to discuss some hot-button issues as part of interim committee meetings. Lawmakers on the Joint…
Continue Reading Take Me to More News
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