La. Missed Out On Millions In Severance Taxes, Report Says

Law360, New York (December 3, 2013, 2:53 PM EST) -- The Louisiana Department of Revenue needs to improve the way it collects severance taxes after it failed to collect potentially millions of dollars in taxes for extraction of oil and natural gas, the Louisiana Legislative Auditor said in a report released Monday.

The report, issued by Legislative Auditor Daryl G. Purpera’s office, said the system for assessing and collecting severance taxes from oil and gas companies is flawed, causing the state to lose out on what could be millions of dollars in tax revenue. Severance taxes make...
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