Calif. Bill Aims To Raise $2B A Year By Taxing Oil Producers
State Sens. Noreen Evans, D-Santa Rosa, and Mark Leno, D-San Francisco, introduced S.B. 241, which proposes to place a 9.9 percent severance tax on companies that extract oil from the ground or water within the state’s jurisdiction as of January 2014.
“California is the largest — and only — oil producing state in...
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