Backers of a measure to regulate high-volume gas and oil drilling in Illinois have agreed on the fees and extraction taxes that drillers would pay to the state.
Industry operators will pay $13,000 per well to help fund the state's regulatory program. They'll also pay a 3 percent per barrel "severance" tax during the first two years of operation, and higher taxes in later years.
The committee will vote Friday on whether to move the proposal to the House floor for consideration.
Here is a sample of what other states charge:
— Alaska, 25 percent-50 percent petroleum profits tax, depending on net value of oil and gas.
—Colorado, 2 percent-5 percent severance tax based on gross income.
— Kansas, 8 percent of gross value, less 3.67 percent property tax credit.
— Kentucky, 4.5 percent of gross value, less transportation expenses.
— North Dakota, 6.5 percent of gross value at well.
— Texas, 7.5 percent of market value.
— West Virginia, 5 percent of gross value.
(Copyright 2013 by The Associated Press. All rights reserved.)
E-Mail
Print
