March 26, 2012
By Daniel Menefee
Dan@MarylandReporter.com
House lawmakers Monday night passed a 7.5% state severance tax on natural gas in a 82-51 vote, after the delegates on Saturday fended off an amendment from Del. Wendell Beitzel, R-Garrett, that would cap state and local taxes on natural gas extraction at 7.5% combined.
“The amendment would incorporate all severance taxes,” Beitzel said. “Local, county and state taxes together could not exceed 7.5%.”
Garrett County currently has a severance tax of 5.5%, which means the state could assess a severance tax of only 2% under Beitzel’s amendment. Allegany County’s severance tax of 7% would limit the state’s share to just 0.5%.
Read more: http://marylandreporter.com/2012/03/26/house-approves-7-5-natural-gas-tax-highest-in-the-marcellus-shale-states/#ixzz1qKPvRldz
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