Pa. Reps Seek To Tax Natural Gas Extraction

Law360, New York (March 2, 2011, 5:31 PM EST) -- A bill introduced Tuesday in the Pennsylvania House of Representatives would impose new taxes on natural gas drilling, after similar efforts in the state stalled last year.

The new bill, known as the Natural Gas Severance Tax Act and co-sponsored by over three dozen assembly members, would set a tax on the extraction of natural gas at 30 cents per 1,000 cubic feet of natural gas extracted.

The bill requires every natural gas producer to file a return with the state Department of Revenue reporting the...
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