Louisiana Collects $81M in Severance Taxes Ahead of Major Oil Tax Overhaul - American Press

Louisiana collects $81M in severance taxes ahead of major oil tax overhaul - American Press

By Nolan McKendry | The Center Square Louisiana collected more than $81 million in severance taxes during the quarter ending June 30, with oil and gas revenues nearly evenly split, according to new figures released by the Louisiana Department of Revenue. Since the beginning of the calendar year, the state has collected $169 million in severance. The report comes just ahead of sweeping changes to the state’s severance tax structure, that took eff…

Louisiana collects $81M in severance taxes ahead of major oil tax overhaul

The report comes just ahead of sweeping changes to the state's severance tax structure, that took effect on July 1, aimed at stimulating oil production and revisiting how revenues are shared with local governments.

Here’s what Louisiana collected in severance taxes during Q2 of this year

Louisiana collected more than $81 million in severance taxes during the quarter ending June 30, with oil and gas revenues nearly evenly split, The Center Square reports. Since Jan. 1, the state has brought in $169 million in severance taxes. The figures provided from the Louisiana Department of Revenue come ahead of significant changes to the state’s severance tax structure that took effect July 1. The reforms aim to stimulate oil production and…