WV Severance Tax Collections Up 10.8% Thx to NatGas Price, Production

According to West Virginia Deputy Revenue Secretary Mark Muchow, the state's severance tax collections are rebounding, with $82.2 million collected so far this fiscal year, representing a 10.8% increase over the same period last year. The rise reflects higher natural gas prices—up about 50% from last year. Production is up too---a 5.5% increase---which helps. Coal production is up, though prices, especially for metallurgical coal, have declined. September collections alone were $51.7 million, exceeding estimates by $16.3 million.

---

To view this content, log into your member account. (Not a member? Join Today!)