Wyo. High Court Sides With Exxon In State Tax Spat

By Mike Cherney

Law360, New York (November 13, 2009, 5:14 PM ET) -- The Wyoming Supreme Court has ruled that natural gas being extracted at a facility owned by Exxon Mobil Corp. should be taxed farther upstream than what was determined by the state's tax board, a ruling that will likely lead to less revenue for state coffers.

The court issued its 4-1 opinion on Thursday. At issue in the case was Wyoming's severance tax, which taxes the removal of natural resources.

Where the natural gas is valued in the refining process could have a major impact on how...
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