Cash-strapped states weigh tax policy on drilling - 21 News Now, More Local News for Youngstown, Ohio -

Cash-strapped states weigh tax policy on drilling

Updated:
  • More News

  • YOUNGSTOWN, Ohio- The Mahoning Youngstown Community Action Partnership (MYCAP) will host their Community Action Awareness Day Friday, May 17, 2013 from 10:00 a.m. – 6:00 p.m. at the Wick Park Recreation
    YOUNGSTOWN, Ohio- The Mahoning Youngstown Community Action Partnership (MYCAP) will host their Community Action Awareness Day Friday, May 17, 2013 from 10:00 a.m. – 6:00 p.m. at the Wick Park Recreation Center, located inside of Wick Park, 260 Park Avenue, Youngstown.
  • Thursday, May 16 2013 12:21 PM EDT2013-05-16 16:21:46 GMT
    MAHONING TOWNSHIP, Pennsylvania- The Coroner says a former Mahoning County Sherriff's deputy hospitalized after a domestic shooting in Lawrence County has now died. Joe Lupo died this morning at Saint
    MAHONING TOWNSHIP, Pennsylvania- The Coroner says a former Mahoning County Sherriff's deputy hospitalized after a domestic shooting in Lawrence County has now died.
  • Thursday, May 16 2013 11:48 AM EDT2013-05-16 15:48:23 GMT
    PHILADELPHIA (AP) - Gambling regulators say gross revenue from table games at Pennsylvania's 11 casinos was up 8.9 percent last month when compared to April 2012. The Pennsylvania Gaming Control Board
    PHILADELPHIA (AP) - Gambling regulators say gross revenue from table games at Pennsylvania's 11 casinos was up 8.9 percent last month when compared to April 2012.

COLUMBUS, Ohio (AP) - The governor of Ohio is joining the ranks of state leaders nationwide who are weighing how to best use the current natural gas and oil drilling boom to help their state economies.

Gov. John Kasich proposes to raise taxes on oil and gas production in Ohio's Utica and Marcellus shale formations to pay for a statewide income tax cut.

According to National Conference of State Legislatures data, a dozen states since 2011 have seen proposals to impose a new oil and gas production tax - or to raise, lower or amend an existing one. Most proposals have fizzled, including those in West Virginia and Pennsylvania, where lawmakers opted for fee increases.

Severance taxes on a variety of natural resources generated $11 billion in 36 states in 2010. Thirty-one taxed oil and gas production.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow
All content © Copyright 2000 - 2013 Worldnow and WFMJ. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms