WV O&G Keeping an Eye on Gov’s Plan to Increase Severance Tax

In February West Virginia Gov. Jim Justice announced a plan to eliminate the state’s personal income tax. Who wouldn’t love that idea? But in order to replace the $2.1 billion received annually from the personal income tax, Justice would raise other taxes, including a tiered system that potentially raises the state’s oil and gas severance tax (see WV Gov. Floats Plan to Eliminate Income Tax, Raise Severance Tax). We don’t like that idea so much. However, the Gas and Oil Association of West Virginia (GO-WV) was, at the time, cautiously optimistic. GO-WV continues to closely monitor the bill's progress. Has their attitude changed?

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