A report from a group of Ohio House and Senate legislators evaluating Ohio's severance tax. While the group finds Ohio's tax is one of the lowest in the nation, they caution against raising it any time soon for fear of destroying the nascent Utica Shale industry in the state.
This document analyzes the determinants of competitiveness in the Indian auto industry through a literature review, analysis of secondary data, and a field survey of 45 auto firms. The key findings are:
1) The Indian auto industry has grown rapidly in recent years, with average annual growth of over 18% from 2001-2002 to 2005-2006.
2) However, constraints like infrastructure bottlenecks, high costs of finance, and lack of technology hamper the industry from achieving greater competitiveness in global markets.
3) The field survey found that while domestic demand is growing, firms face challenges in areas like supply chain management, capacity utilization, and access to skilled labor that affect their costs and ability to expand
This document is the procurement operations procedures manual for HCC. It outlines the general provisions and definitions that govern HCC's procurement processes. Some key points:
- The manual establishes HCC's mission, vision, and purpose for procurement along with authority, responsibilities, and rules of construction.
- It defines over 75 procurement-related terms to clarify language used throughout the manual. Examples include definitions for acquisition, award, bid, contractor, contract modification, and purchase order.
- The table of contents shows the manual is divided into articles that cover general provisions, source selection and contracting, specifications, insurance and bonding requirements, contract administration, and other procurement topics.
The key proposals in the India Budget 2013-14 document include:
1) Corporate tax rates remain unchanged but surcharge rates have increased, resulting in marginal increases to effective tax rates.
2) A new 20% tax is proposed on unlisted companies for buy-back of shares from shareholders, in addition to the company's normal tax on profits.
3) Several proposals aim to widen the tax base, including a general anti-avoidance rule and withholding taxes on various payments.
Smoking is a major cause of preventable illness and death in England. It disproportionately impacts poorer communities and contributes to health inequalities. Quitting smoking significantly reduces health risks, but support is needed to successfully stop. This guidance aims to optimize smoking cessation services and support to help more people quit tobacco use.
This document is an accounting policies and procedures manual for the Ghana School Feeding Programme (GSFP) from 2009. It outlines the general structure and policies of the GSFP
Survey on corporate governance | Excellence EnablersSwatiDobriyal
Corporate Governance, in our view, is doing the right things, without having the lawmakers or the Regulators
telling the company what requires to be done.
Excellence Enablers brings you it's Survey on Corporate Governance, from which a clear picture emerges of what Nifty 50 companies have done in the journey of Corporate Governance.
To view the survey click here bit.ly/3rpRj3u
#ExcellenceEnablers #corporategovernance #corporatelaw #Survey #insightsanddata #expertinsights #governance #leadership #compliance #management #ethics
Cigna Limited Distribution Drugs with Reimbursement RestrictionMelissa Paige
Update: Thank you for all those who reached out, and investigated with your internal teams. Attached are all screenshots from the website (with login), and the full complete Cigna Reference Guide.
This document is the First Official Sporting Code which governs internet racing competitions hosted on iRacing.com. It outlines the structure of FIRST as the sanctioning body, defines license levels and rules for competition, describes procedures for races and penalties, and establishes rights for protests and appeals. The Code is designed to ensure fair and consistent governance of all iRacing events through a standardized set of regulations.
This document analyzes the determinants of competitiveness in the Indian auto industry through a literature review, analysis of secondary data, and a field survey of 45 auto firms. The key findings are:
1) The Indian auto industry has grown rapidly in recent years, with average annual growth of over 18% from 2001-2002 to 2005-2006.
2) However, constraints like infrastructure bottlenecks, high costs of finance, and lack of technology hamper the industry from achieving greater competitiveness in global markets.
3) The field survey found that while domestic demand is growing, firms face challenges in areas like supply chain management, capacity utilization, and access to skilled labor that affect their costs and ability to expand
This document is the procurement operations procedures manual for HCC. It outlines the general provisions and definitions that govern HCC's procurement processes. Some key points:
- The manual establishes HCC's mission, vision, and purpose for procurement along with authority, responsibilities, and rules of construction.
- It defines over 75 procurement-related terms to clarify language used throughout the manual. Examples include definitions for acquisition, award, bid, contractor, contract modification, and purchase order.
- The table of contents shows the manual is divided into articles that cover general provisions, source selection and contracting, specifications, insurance and bonding requirements, contract administration, and other procurement topics.
The key proposals in the India Budget 2013-14 document include:
1) Corporate tax rates remain unchanged but surcharge rates have increased, resulting in marginal increases to effective tax rates.
2) A new 20% tax is proposed on unlisted companies for buy-back of shares from shareholders, in addition to the company's normal tax on profits.
3) Several proposals aim to widen the tax base, including a general anti-avoidance rule and withholding taxes on various payments.
Smoking is a major cause of preventable illness and death in England. It disproportionately impacts poorer communities and contributes to health inequalities. Quitting smoking significantly reduces health risks, but support is needed to successfully stop. This guidance aims to optimize smoking cessation services and support to help more people quit tobacco use.
This document is an accounting policies and procedures manual for the Ghana School Feeding Programme (GSFP) from 2009. It outlines the general structure and policies of the GSFP
Survey on corporate governance | Excellence EnablersSwatiDobriyal
Corporate Governance, in our view, is doing the right things, without having the lawmakers or the Regulators
telling the company what requires to be done.
Excellence Enablers brings you it's Survey on Corporate Governance, from which a clear picture emerges of what Nifty 50 companies have done in the journey of Corporate Governance.
To view the survey click here bit.ly/3rpRj3u
#ExcellenceEnablers #corporategovernance #corporatelaw #Survey #insightsanddata #expertinsights #governance #leadership #compliance #management #ethics
Cigna Limited Distribution Drugs with Reimbursement RestrictionMelissa Paige
Update: Thank you for all those who reached out, and investigated with your internal teams. Attached are all screenshots from the website (with login), and the full complete Cigna Reference Guide.
This document is the First Official Sporting Code which governs internet racing competitions hosted on iRacing.com. It outlines the structure of FIRST as the sanctioning body, defines license levels and rules for competition, describes procedures for races and penalties, and establishes rights for protests and appeals. The Code is designed to ensure fair and consistent governance of all iRacing events through a standardized set of regulations.
Health Financing Indicators Reference Sheet 2014HFG Project
This document provides reference sheets for 19 health financing indicators across 4 categories: 1) Revenue Collection, 2) Risk Pooling, 3) Purchasing, and 4) Cross-cutting indicators. Each indicator reference sheet defines the indicator, its purpose, key terms, measurement approach, and potential data sources. The indicators measure outputs, outcomes and impacts related to increasing resources for health, establishing risk pooling mechanisms, strengthening provider payment systems, and monitoring overall health financing trends.
Governance and Leadership Indicators Reference Sheets 2015HFG Project
This module includes the indicators on leadership and governance for health from the compendium of indicators for projects supporting health financing, human resources, and governance developed by the HFG project.
At EY we developed a helpful guide to preparing 2018 season proxy statements. It contains observations about current best practices and also functions as a comprehensive reference to SEC requirements.
Final Report (TCP/RLA/0069)
Development of Standards for the Construction and Inspection of Fishing Vessels
Final Report TCP/RLA/0069 http://www.slideshare.net/safetyforfishermen/final-report-of-project-57610513
Annex I http://www.slideshare.net/safetyforfishermen/annex-i-57610511
Annex II http://www.slideshare.net/safetyforfishermen/annex-ii-57610508
Annex III http://www.slideshare.net/safetyforfishermen/annex-iii
Annex IV http://www.slideshare.net/safetyforfishermen/annex-iv-57610500
Annex V http://www.slideshare.net/safetyforfishermen/annex-v-57610497
Annex VI http://www.slideshare.net/safetyforfishermen/annex-vi-57610495
Schedule 1 http://www.slideshare.net/safetyforfishermen/schedule-1-57610492
Schedule 2 http://www.slideshare.net/safetyforfishermen/schedule-2-57610486
Schedule 3 http://www.slideshare.net/safetyforfishermen/schedule-3-57610481
Schedule 4 http://www.slideshare.net/safetyforfishermen/schedule-4-57610477
Schedule 5 http://www.slideshare.net/safetyforfishermen/schedule-5-57610474
Schedule 6 http://www.slideshare.net/safetyforfishermen/schedule-6-57610470
Schedule 7 http://www.slideshare.net/safetyforfishermen/schedule-7-57610465
Schedule 8 http://www.slideshare.net/safetyforfishermen/schedule-8-57610456
Schedule 9 http://www.slideshare.net/safetyforfishermen/schedule-9-57610450
Schedule 10 http://www.slideshare.net/safetyforfishermen/schedule-10-57610439
Schedule 11 http://www.slideshare.net/safetyforfishermen/schedule-11-57610431
Annex VII http://www.slideshare.net/safetyforfishermen/annex-vii-57610416
Annex VIII http://www.slideshare.net/safetyforfishermen/annex-viii-57610410
Annex IX http://www.slideshare.net/safetyforfishermen/annex-ix-57610400
Annex X http://www.slideshare.net/safetyforfishermen/annex-x-57610393
Annex XI http://www.slideshare.net/safetyforfishermen/annex-xi-57610383
This document outlines the rules for Zambia's Central Securities Depository (CSD) system. Some key points:
1. The CSD is operated by the Bank of Zambia and maintains records of ownership and settles transactions for securities issued by the Zambian government and other eligible issuers.
2. Eligible securities include government bonds, treasury bills, and other instruments issued through the CSD system. The CSD record serves as the primary register of ownership.
3. Transactions can settle on a delivery-versus-payment basis through a link to the national payments system. This ensures final settlement of transactions.
This document provides an overview of requirements and observations about current practices for 2017 proxy statements. It discusses SEC proxy rules and trends in proxy communications. Recent developments include increased transparency in audit committee reporting and expanded executive compensation disclosures required by Dodd-Frank. The document reviews general rules on proxy solicitations and the typical disclosures required in annual meeting proxy statements, including for directors, executive compensation, auditors, and equity plans. It also summarizes requirements for smaller reporting companies and emerging growth companies.
This document outlines the Denton Central Appraisal District's 2015-2016 reappraisal plan. It discusses general policies and procedures for appraising different types of properties using mass appraisal methods. It covers appraising real property like commercial, agricultural, residential, and mobile homes. It also discusses appraising business personal property. The plan aims to analyze all property categories within the district boundaries each year and reappraise as needed using mass appraisal techniques that comply with USPAP standards.
The Invest Plus user manual describes the setup wizard that allows users to easily create an Invest Plus database in 6 simple steps. The wizard guides users to enter basic personal details, cash and savings account information, financial year details, trading account and broker information to get started using Invest Plus. It provides an intuitive way to create a new file and set up the necessary master records to manage personal finances.
The Guide to Medicare Preventative Services for Physicans, Providers and Supp...Tim Boucher
This guide was prepared as a service to the public and is not intended to grant rights or impose obligations. This guide may contain references or links to statutes, regulations, or other policy materials. The information provided is only intended to be a general summary. It is not intended to take the place of either the written law or regulations. We encourage readers to review the specific statutes, regulations, and other interpretive materials for a full and accurate statement of their contents. Read more..
Estimados Parceiros,
Estamos engajados no projeto TechRaiz Inc, parte integrante da organização Microsoft Virtual STORES Technology USA Inc, Grupo de empresas de Private Equity Silver Laker PARTNER Startups Nonprofits Incubadoras de Startups Empresas do Terceiro Setor Empresas de Investimentos Subsidiarias da Microsoft Corporation Empresas Parceiras da Microsoft e demais empresas de tecnologia de software e hardware, reunidas na Missão Digital do NAI.org.us pelo Quadrante Magico do GARTNER para a Aliança Digital, pronta para levar o computador empresas de tecnologia e serviços privados, por um ONE-STOP-SHOP Microsoft empresas Parceiras da Microsoft e respectivas empresas de tecnologia de software e hardware.
Portanto um projeto, web/network Node.sj Github GithLab Firedase Plone.org C++ Cs C# Apache w3.org e outros programas de projetos network, desenvolvido ao longo de 25 anos, por incentivos fiscais patrocinados inicialmente pelas empresas da Triplice Aliança Microsoft Yahoo e AOL, em um ecossistema de redes hibridas neural de software e hardware, com suas proprias infrastruestrutura de classe mundial de nuvens privadas, em ordens de magnitudes faceis de alcançar, em ordens de magnitudes faceis de alcançar, em locais web/network de Platâformas de Lojas de APP API ASPNET Framework especificas para os clientes corporativos comprar e ou alugar, infrastruestrutura de computação armazenamento redes software e hardware, provenientes de eventos Microsoft, e referidas empresas de tecnologia de software e hardware, derivados de aplicações web/network realizadas por desenvolvedores profissionais e êxecutivos de ti independentes no MSDN MSN e TechNet, nas gerações de conteúdos de dados, inclusos em programas de governos, programas academicos e demais programas do E-Tracker, orquestrados pelo Microsoft PARTNER Network, para .com objetivos e finalidades voltadas para êntregas de soluções, em produtos serviços e ferramentas de software e hardware, para o IMPULSIONAMENTO dos Negocios Digitais, bem como entregas de soluções para os problemas administrativos e operacionais nas pequenas e medias empresas publicas e privadas, microempreendedores individuais e usuarios finais de uma internet melhor mais segura e justa para todos, em uma nova era do trabalho, flexivel, digital, sem papel, segura e em todos lugares, dando origem às novas gerações de empresas Microsoft 100 % Digital, formadas para a completa automačäo de atividades administrativas e operacionais, por interoperabilidades de trabalhos flexiveis.
Obrigado
Jose Ramon Carias
CEO - Fundador
TechRaiz Inc
Microsoft Virtual STORES Technology USA Inc
Nepal Budget Highlight 2074/75 (2017/18) Tax RatesCA. Tika Karki
The document summarizes key aspects of Nepal's budget for fiscal year 2074/75, including:
- The budget's objectives are to support implementing the new constitution, attain sustainable and inclusive economic growth, maintain macroeconomic stability, and enhance public services.
- The budget's total amount is NRs. 1,278.99 billion, with revenue as the primary source of funds.
- Funds are allocated to various sectors, with the largest allocations for infrastructure development, social development, and productive sector development.
This document is the 2008 annual report and financial statements of United Bank for Africa Plc (UBA). It provides an overview of UBA's business operations across 19 African countries, highlights from 2008 including financial performance, and discussions of innovative products/services, corporate governance, risk management, and financial statements. The report was produced to inform shareholders and other stakeholders about UBA's activities and progress in 2008.
This document reviews the environmental liabilities and life-cycle management issues related to used lubricating oils. It finds that understanding ownership transfer of used oils is critical for any company in this business. Such companies are responsible for training staff and contractors on best practices for managing used oils. They should also audit contractors to ensure proper performance. The document describes hypothetical situations to illustrate potential liabilities at different stages, from advice to disposal. It concludes that companies getting into this business must provide accurate guidance and have a well-documented system for managing environmental issues associated with used oils.
This document outlines SL TN America's supplier production part approval process (PPAP) requirements. It details the elements required for a PPAP submission, including design records, process flow diagrams, measurement system analysis studies, dimensional results, material and performance test results, production process studies, and more. Suppliers must meet these requirements and obtain approval before parts can be mass produced. The document provides guidelines to help suppliers understand and comply with SL TN's PPAP process.
The document summarizes key findings from interviews with five organizations that have implemented SOA in production environments. The organizations ranged from 2-6 years of experience with SOA. Case studies of each organization provided details on their business drivers for SOA, implementation approach, products used, results and lessons learned. Common themes across organizations included exponential growth once initial SOA services are established, importance of governance, value of consulting, benefits of planning, and importance of loose coupling. SOA implementations yielded benefits like reduced integration costs but also challenges like significant investment required.
Contact :
Fiona
Sales Director
Tel: +00-1-626-3463946 - U.S
E-mail: fiona@marketresearchreportstore.com
Web:www.marketresearchreportstore.com/
Our Corporate Headquarters Address:
MARKET RESEARCH REPORT STORE, INC.
17890 Castleton Street
Suite 218 City of Industry
CA 91748 US.
Well stimulation jobs are productivity enhancement activities and must be properly done with designed parameters for future performance of well and reservoir. The course of internship involved Acidizing, Hydraulic Fracturing, Coil Tubing, Hot oil circulation and Nitrogen Injection services to the well.
REVERSE MORTGAGE - HECM LOAN - Guidelines And ProceduresMortgages
Lending programs for Seniors 62 years of age and over looking to free up equity in their property and or losen up the income they currently have in order to maintain a stable lifestyle...do to shortage of income...
This document is a notice and proxy statement from Agilent Technologies for its 2006 annual meeting of stockholders. It announces the meeting will be held on March 1, 2006 at 10:00 am at the South San Francisco Conference Center. Items of business include electing directors, ratifying the appointment of PricewaterhouseCoopers as the independent auditor, and approving Agilent's Long-Term Performance Program. It provides information on voting procedures and deadlines.
A full-blown audit of the city-owned Philadelphia Gas Works, commissioned by the PA Public Utilities Commission. The biggest way PGW can save money, according to the audit, is to buy more of its natural gas supplies from the nearby PA Marcellus--rather than continue to buy gas from the Gulf Coast as it does now.
New EPA Rule to prevent untreated frack wastewater from being processed by mu...Marcellus Drilling News
A new rule (i.e. law) by the federal Environmental Protection Agency that will prevent untreated frack wastewater from being processed by local sewage treatment plants. The new rule is called "Effluent Limitations Guidelines and Standards for the Oil and Gas Extraction Point Source Category." The rule is set to go into effect within the next few weeks.
Health Financing Indicators Reference Sheet 2014HFG Project
This document provides reference sheets for 19 health financing indicators across 4 categories: 1) Revenue Collection, 2) Risk Pooling, 3) Purchasing, and 4) Cross-cutting indicators. Each indicator reference sheet defines the indicator, its purpose, key terms, measurement approach, and potential data sources. The indicators measure outputs, outcomes and impacts related to increasing resources for health, establishing risk pooling mechanisms, strengthening provider payment systems, and monitoring overall health financing trends.
Governance and Leadership Indicators Reference Sheets 2015HFG Project
This module includes the indicators on leadership and governance for health from the compendium of indicators for projects supporting health financing, human resources, and governance developed by the HFG project.
At EY we developed a helpful guide to preparing 2018 season proxy statements. It contains observations about current best practices and also functions as a comprehensive reference to SEC requirements.
Final Report (TCP/RLA/0069)
Development of Standards for the Construction and Inspection of Fishing Vessels
Final Report TCP/RLA/0069 http://www.slideshare.net/safetyforfishermen/final-report-of-project-57610513
Annex I http://www.slideshare.net/safetyforfishermen/annex-i-57610511
Annex II http://www.slideshare.net/safetyforfishermen/annex-ii-57610508
Annex III http://www.slideshare.net/safetyforfishermen/annex-iii
Annex IV http://www.slideshare.net/safetyforfishermen/annex-iv-57610500
Annex V http://www.slideshare.net/safetyforfishermen/annex-v-57610497
Annex VI http://www.slideshare.net/safetyforfishermen/annex-vi-57610495
Schedule 1 http://www.slideshare.net/safetyforfishermen/schedule-1-57610492
Schedule 2 http://www.slideshare.net/safetyforfishermen/schedule-2-57610486
Schedule 3 http://www.slideshare.net/safetyforfishermen/schedule-3-57610481
Schedule 4 http://www.slideshare.net/safetyforfishermen/schedule-4-57610477
Schedule 5 http://www.slideshare.net/safetyforfishermen/schedule-5-57610474
Schedule 6 http://www.slideshare.net/safetyforfishermen/schedule-6-57610470
Schedule 7 http://www.slideshare.net/safetyforfishermen/schedule-7-57610465
Schedule 8 http://www.slideshare.net/safetyforfishermen/schedule-8-57610456
Schedule 9 http://www.slideshare.net/safetyforfishermen/schedule-9-57610450
Schedule 10 http://www.slideshare.net/safetyforfishermen/schedule-10-57610439
Schedule 11 http://www.slideshare.net/safetyforfishermen/schedule-11-57610431
Annex VII http://www.slideshare.net/safetyforfishermen/annex-vii-57610416
Annex VIII http://www.slideshare.net/safetyforfishermen/annex-viii-57610410
Annex IX http://www.slideshare.net/safetyforfishermen/annex-ix-57610400
Annex X http://www.slideshare.net/safetyforfishermen/annex-x-57610393
Annex XI http://www.slideshare.net/safetyforfishermen/annex-xi-57610383
This document outlines the rules for Zambia's Central Securities Depository (CSD) system. Some key points:
1. The CSD is operated by the Bank of Zambia and maintains records of ownership and settles transactions for securities issued by the Zambian government and other eligible issuers.
2. Eligible securities include government bonds, treasury bills, and other instruments issued through the CSD system. The CSD record serves as the primary register of ownership.
3. Transactions can settle on a delivery-versus-payment basis through a link to the national payments system. This ensures final settlement of transactions.
This document provides an overview of requirements and observations about current practices for 2017 proxy statements. It discusses SEC proxy rules and trends in proxy communications. Recent developments include increased transparency in audit committee reporting and expanded executive compensation disclosures required by Dodd-Frank. The document reviews general rules on proxy solicitations and the typical disclosures required in annual meeting proxy statements, including for directors, executive compensation, auditors, and equity plans. It also summarizes requirements for smaller reporting companies and emerging growth companies.
This document outlines the Denton Central Appraisal District's 2015-2016 reappraisal plan. It discusses general policies and procedures for appraising different types of properties using mass appraisal methods. It covers appraising real property like commercial, agricultural, residential, and mobile homes. It also discusses appraising business personal property. The plan aims to analyze all property categories within the district boundaries each year and reappraise as needed using mass appraisal techniques that comply with USPAP standards.
The Invest Plus user manual describes the setup wizard that allows users to easily create an Invest Plus database in 6 simple steps. The wizard guides users to enter basic personal details, cash and savings account information, financial year details, trading account and broker information to get started using Invest Plus. It provides an intuitive way to create a new file and set up the necessary master records to manage personal finances.
The Guide to Medicare Preventative Services for Physicans, Providers and Supp...Tim Boucher
This guide was prepared as a service to the public and is not intended to grant rights or impose obligations. This guide may contain references or links to statutes, regulations, or other policy materials. The information provided is only intended to be a general summary. It is not intended to take the place of either the written law or regulations. We encourage readers to review the specific statutes, regulations, and other interpretive materials for a full and accurate statement of their contents. Read more..
Estimados Parceiros,
Estamos engajados no projeto TechRaiz Inc, parte integrante da organização Microsoft Virtual STORES Technology USA Inc, Grupo de empresas de Private Equity Silver Laker PARTNER Startups Nonprofits Incubadoras de Startups Empresas do Terceiro Setor Empresas de Investimentos Subsidiarias da Microsoft Corporation Empresas Parceiras da Microsoft e demais empresas de tecnologia de software e hardware, reunidas na Missão Digital do NAI.org.us pelo Quadrante Magico do GARTNER para a Aliança Digital, pronta para levar o computador empresas de tecnologia e serviços privados, por um ONE-STOP-SHOP Microsoft empresas Parceiras da Microsoft e respectivas empresas de tecnologia de software e hardware.
Portanto um projeto, web/network Node.sj Github GithLab Firedase Plone.org C++ Cs C# Apache w3.org e outros programas de projetos network, desenvolvido ao longo de 25 anos, por incentivos fiscais patrocinados inicialmente pelas empresas da Triplice Aliança Microsoft Yahoo e AOL, em um ecossistema de redes hibridas neural de software e hardware, com suas proprias infrastruestrutura de classe mundial de nuvens privadas, em ordens de magnitudes faceis de alcançar, em ordens de magnitudes faceis de alcançar, em locais web/network de Platâformas de Lojas de APP API ASPNET Framework especificas para os clientes corporativos comprar e ou alugar, infrastruestrutura de computação armazenamento redes software e hardware, provenientes de eventos Microsoft, e referidas empresas de tecnologia de software e hardware, derivados de aplicações web/network realizadas por desenvolvedores profissionais e êxecutivos de ti independentes no MSDN MSN e TechNet, nas gerações de conteúdos de dados, inclusos em programas de governos, programas academicos e demais programas do E-Tracker, orquestrados pelo Microsoft PARTNER Network, para .com objetivos e finalidades voltadas para êntregas de soluções, em produtos serviços e ferramentas de software e hardware, para o IMPULSIONAMENTO dos Negocios Digitais, bem como entregas de soluções para os problemas administrativos e operacionais nas pequenas e medias empresas publicas e privadas, microempreendedores individuais e usuarios finais de uma internet melhor mais segura e justa para todos, em uma nova era do trabalho, flexivel, digital, sem papel, segura e em todos lugares, dando origem às novas gerações de empresas Microsoft 100 % Digital, formadas para a completa automačäo de atividades administrativas e operacionais, por interoperabilidades de trabalhos flexiveis.
Obrigado
Jose Ramon Carias
CEO - Fundador
TechRaiz Inc
Microsoft Virtual STORES Technology USA Inc
Nepal Budget Highlight 2074/75 (2017/18) Tax RatesCA. Tika Karki
The document summarizes key aspects of Nepal's budget for fiscal year 2074/75, including:
- The budget's objectives are to support implementing the new constitution, attain sustainable and inclusive economic growth, maintain macroeconomic stability, and enhance public services.
- The budget's total amount is NRs. 1,278.99 billion, with revenue as the primary source of funds.
- Funds are allocated to various sectors, with the largest allocations for infrastructure development, social development, and productive sector development.
This document is the 2008 annual report and financial statements of United Bank for Africa Plc (UBA). It provides an overview of UBA's business operations across 19 African countries, highlights from 2008 including financial performance, and discussions of innovative products/services, corporate governance, risk management, and financial statements. The report was produced to inform shareholders and other stakeholders about UBA's activities and progress in 2008.
This document reviews the environmental liabilities and life-cycle management issues related to used lubricating oils. It finds that understanding ownership transfer of used oils is critical for any company in this business. Such companies are responsible for training staff and contractors on best practices for managing used oils. They should also audit contractors to ensure proper performance. The document describes hypothetical situations to illustrate potential liabilities at different stages, from advice to disposal. It concludes that companies getting into this business must provide accurate guidance and have a well-documented system for managing environmental issues associated with used oils.
This document outlines SL TN America's supplier production part approval process (PPAP) requirements. It details the elements required for a PPAP submission, including design records, process flow diagrams, measurement system analysis studies, dimensional results, material and performance test results, production process studies, and more. Suppliers must meet these requirements and obtain approval before parts can be mass produced. The document provides guidelines to help suppliers understand and comply with SL TN's PPAP process.
The document summarizes key findings from interviews with five organizations that have implemented SOA in production environments. The organizations ranged from 2-6 years of experience with SOA. Case studies of each organization provided details on their business drivers for SOA, implementation approach, products used, results and lessons learned. Common themes across organizations included exponential growth once initial SOA services are established, importance of governance, value of consulting, benefits of planning, and importance of loose coupling. SOA implementations yielded benefits like reduced integration costs but also challenges like significant investment required.
Contact :
Fiona
Sales Director
Tel: +00-1-626-3463946 - U.S
E-mail: fiona@marketresearchreportstore.com
Web:www.marketresearchreportstore.com/
Our Corporate Headquarters Address:
MARKET RESEARCH REPORT STORE, INC.
17890 Castleton Street
Suite 218 City of Industry
CA 91748 US.
Well stimulation jobs are productivity enhancement activities and must be properly done with designed parameters for future performance of well and reservoir. The course of internship involved Acidizing, Hydraulic Fracturing, Coil Tubing, Hot oil circulation and Nitrogen Injection services to the well.
REVERSE MORTGAGE - HECM LOAN - Guidelines And ProceduresMortgages
Lending programs for Seniors 62 years of age and over looking to free up equity in their property and or losen up the income they currently have in order to maintain a stable lifestyle...do to shortage of income...
This document is a notice and proxy statement from Agilent Technologies for its 2006 annual meeting of stockholders. It announces the meeting will be held on March 1, 2006 at 10:00 am at the South San Francisco Conference Center. Items of business include electing directors, ratifying the appointment of PricewaterhouseCoopers as the independent auditor, and approving Agilent's Long-Term Performance Program. It provides information on voting procedures and deadlines.
A full-blown audit of the city-owned Philadelphia Gas Works, commissioned by the PA Public Utilities Commission. The biggest way PGW can save money, according to the audit, is to buy more of its natural gas supplies from the nearby PA Marcellus--rather than continue to buy gas from the Gulf Coast as it does now.
New EPA Rule to prevent untreated frack wastewater from being processed by mu...Marcellus Drilling News
A new rule (i.e. law) by the federal Environmental Protection Agency that will prevent untreated frack wastewater from being processed by local sewage treatment plants. The new rule is called "Effluent Limitations Guidelines and Standards for the Oil and Gas Extraction Point Source Category." The rule is set to go into effect within the next few weeks.
PA Conventional Oil and Gas Advisory Committee Letter to DEP Opposing New Dri...Marcellus Drilling News
A letter sent by the voting members of the new Pennsylvania Conventional Oil and Gas Advisory Committee to the Dept. of Environmental Protection saying, in essence, that rules designed for shale drillers (much larger operations) should not apply to smaller, conventional oil and gas drillers. The committee members are opposing proposed new regulations by the DEP that would put conventional drillers at a disadvantage.
Report: Fracking & Parkland - Understanding the Impact of Hydraulic Fracturin...Marcellus Drilling News
A sham study by four anti-drilling professors that finds, in an online (i.e. unscientific) survey of 225 people in the Appalachian region, that 1/3 of them would not use a public park if there is fracking nearby.
A new study from the Centre for Policy Studies that conters previous claims that a large amount of methane leaks during shale drilling and production. This study says that methane leakage from shale production is seriously over-estimated.
Ohio's New Horizontal Oil/Gas Well Drilling Rules, Effective July 2015Marcellus Drilling News
A copy of new rules in Ohio for the construction of Utica Shale well pads. The rules are officially referred to by the Ohio Dept. of Natural Resources as "Horizontal Well Site Construction rule package (OAC 1501:9-2-01, 1501:9-2-01 and 1501:9-12)". The new rules require drillers to first submit a detailed well pad site plan before the ODNR will review it and grant permits.
Voter Preferences and Political Change: Evidence From the Political Economy o...Marcellus Drilling News
A research report that looks at the effect of shale drilling on political races and finds that in areas with shale drilling, more Republican and conservative candidates win and those people tend to vote more conservative. The research was conducted by researchers at Bocconi University (Italy), University of Pennsylvania, and Boston College.
The "Findings Statement" issued by the New York State Dept. of Environmental Conservation that supplies the faulty thinking and irrational rationale for banning fracking in the Empire State. The ban is temporary--until a new governor and head of DEC are in place (hopefully at the next election). The Findings Statement is a pathetic attempt to paper over political motivations for a frack ban. It contains broad, sweeping and unsubstantiated by any evidence statements that denigrate the miracle of fracking. It is, in a word, pathetic.
2014 Report on Ohio Mineral Industries: An Annual Summary of the State’s Econ...Marcellus Drilling News
Ohio Dept. of Natural Resources (ODNR) released their annual report on Ohio's extraction/mineral industries, including the oil and gas industry. There are five pages contained in the report of interest for those in the oil/gas industry. MDN lists those five pages and how they benefit you.
Study: Natural Gas Pipeline Infrastructure and Its Impact on Michigan and Ohi...Marcellus Drilling News
A white paper that addresses key agricultural direct needs for affordable natural gas, from fuel, grain drying, in addition to indirect uses in fertilizers and pesticides. The study also demonstrates that there is no safer method of transportation for natural gas than pipelines.
The Executive Summary from the Natural Gas Supply Association’s (NGSA) 2015 Winter Outlook for Natural Gas. The full report concludes that the price of natural gas for the winter ahead will be pretty much the same as last winter's prices.
A new report issued by Energy in Depth that tackles the issue of how many earthquakes are caused by wastewater injection wells. The study finds that 218 of some 40,000 injection wells can be tied to earthquake activity--about a half of one percent.
Court Order Granting Certification of Demchak Royalty Class Action Lawsuit Se...Marcellus Drilling News
The court order that certifies the class action status of the "Demchak" royalty case in Pennsylvania against Chesapeake Energy. PA landowners sued Chesapeake Energy for shorting them on royalty payments using a technique of inflating post-production prices. This order allows the settlement to proceed.
3 Slides from Stone Energy Barclays CEO Power-Energy Conference, NYC Sept 2015Marcellus Drilling News
The document summarizes production and infrastructure development for an oil and gas company. It discusses several fields - Heather, Mary, and Buddy - totaling over 65,000 acres with over 150 active and pending wells. Pipeline infrastructure to move gas to markets is expanding significantly through 2017 to destinations in the Northeast, Midwest, and Gulf Coast. The company has potential for over 200 additional well locations across 35,000 net acres that could yield 3-4 trillion cubic feet of gas based on initial well results.
An important Dormant Minerals Right Act (DMA) case before the Ohio Supreme Court. The Court held that under the DMA: (1) a recorded oil and gas lease is a title transaction that serves as a savings event that prevents minerals from being abandoned to a surface owner; but (2) that the unrecorded expiration of an oil and gas lease is not a savings event.
An updated slide deck from EQT reviewing 2Q15 results and projecting forward for the rest of 2015. Most importantly, EQT added two slides to this deck--pages 34 & 35--that contain production data on what is believed to be the single most initially productive Utica Shale well ever--and perhaps the single highest producing onshore shale well in the world. The Scotts Run 591340 well has broken every record there is!
Report: Senate Outlook on United States International Strategy on Climate Cha...Marcellus Drilling News
An important new report, released in early December 2015, that outlines the sham that is the Paris climate talks. The report points out President Obama's strategy to make Americans pay for past economic success by taxing them and transferring their wealth to other countries--all in the name of so-called climate change.
În ultimii ani, cooperarea dintre UE și Republica Moldova a crescut substanțial, atât din punct de vedere financiar, cât și în ceea ce privește modul cooperării. Relațiile comerciale dintre UE și Republica Moldova reprezintă mai ales un factor important în creșterea economică a țării, așa cum UE a devenit treptat principalul partener comercial al Republicii Moldova, atât pentru importuri, cât și pentru exporturi.
Această serie de rezumate ale sectoarelor comerciale își propune să contribuie activ la dezvoltarea și difuzarea cunoștințelor cu privire la rolul Zonei de Liber Schimb Aprofundat și Cuprinzător (DCFTA) pentru Republica Moldova odată cu punerea în aplicare al Acordului de Asociere (AA).
Publicația oferă o imagine de ansamblu asupra sectoarelor comerciale cheie ale economiei Republicii Moldova: (1) Agricultură, (2) Servicii de Finantare, Bănci și Asigurări, (3) Indicații Geografice, (4) Concurența și Ajutorul de Stat și (5) Industria Ușoară.
Aceste rezumate oferă oricărui cititor posibilitatea să înțeleagă evoluția și tendințele existente în economia moldovenească, precum și măsurile necesare pentru îmbunătățirea unui anumit sector.
Publicația a apărut în urma cooperării dintre Delegația Uniunii Europene în Republica Moldova, Asociația Businessului European (EBA) din Moldova și proiectul finanțat de UE „Suport pentru implementarea DCFTA în Republica Moldova”.
This audit report examines Honolulu's Emergency Medical Services (EMS) ambulance fleet and operations. The audit found that EMS ambulances rarely met state response time guidelines and relies heavily on costly overtime to provide ambulance services. It recommends that EMS collect more complete data for its quality improvement program to better monitor performance.
This document outlines the Office of the United States Trade Representative's (USTR) Open Government Plan from April 2010. The plan aims to increase transparency, participation, and collaboration through various initiatives. A key initiative is engaging the public on the Trans-Pacific Partnership negotiations to get input and maintain dialogue. The plan also details expanding access to trade information, seeking public comment, reviewing membership in advisory groups, and using new technologies to promote open government.
Business proposal coffee shop in CanadaNewGate India
This document provides a business plan for Robin Hood Cake Cafe, a DIY cake shop located in Toronto, Canada. The business will be a sole proprietorship owned and operated by one owner. It will offer customized cakes designed and ordered by customers. The plan outlines goals, products/services, target customers, location feasibility, marketing strategy, operations, finances, and more. The owner will invest $30,000 initially and take out a $30,000 loan. The shop aims to provide a unique customer experience and healthy, organic cakes while becoming a leading provider in the DIY cake industry.
The Mobile Marketing Association (MMA) is the premier global non-profit trade association established to lead the growth of mobile marketing and its associated technologies. The MMA is an action-oriented organization designed to clear obstacles to market development, establish mobile media guidelines and best practices for sustainable growth, and evangelize the use of the mobile channel. The more than 750 member companies, representing over forty countries around the globe, include all members of the mobile media ecosystem. The Mobile Marketing Association’s global headquarters are located in the United States and it has regional chapters including North America (NA), Europe, Latin American (LATAM) and Asia Pacific (APAC) branches.
As the primary source for mobile marketing information and expertise, the MMA is dedicated to:
Provide an industry forum to work cooperatively to resolve key issues
Unify industry-wide, global and regional work groups that focus on industry initiatives
Provide representation for the mobile marketing industry for major legislative bodies worldwide
Globally share perspectives on mobile marketing for Europe, Asia, Americas, and Africa
Fuel B2B interaction through seminars, conferences and events
Develop metrics to measure ad delivery and consumer response
Develop open and compatible mobile marketing technical and creative standards
Define and publish mobile marketing practices on privacy, ad delivery, ad measurement, etc.
Provide effective guidelines for mobile marketing to advertisers, agencies and consumers
Serve as the key advocate on behalf of the mobile marketing industry
Mobile Marketing Association - Best Practices Guide 2011Mosio
This document provides the version 6.0 of the U.S. Consumer Best Practices published by the Mobile Marketing Association on March 1, 2011. It establishes guidelines for standard rate, premium rate, and free-to-end-user mobile marketing programs. The guidelines cover topics like opt-in/opt-out procedures, messaging frequency, content restrictions, dispute resolution, and certification requirements. The document aims to standardize practices and simplify mobile advertising while protecting consumers.
The document provides information about the upcoming annual shareholder meeting of the company, including recommendations of the board of directors, voting procedures, election of directors, and corporate governance practices. It introduces four nominees for election as Class I directors with three-year terms and one nominee each for Class II and Class III directors with one-year and two-year terms respectively. Biographies of continuing directors are also included.
THE STATE OF DOMESTIC COMMERCE IN PAKISTAN STUDY 1 COMPETITIVENESSidspak
The Domestic Commerce Survey was commissioned by the Federal Ministry of Commerce to reduce a research gap that exists in the sector. Policy planning in this sector has taken place without adequate economic research backup and consideration of the critical linkages across sectors. The survey, conducted across five areas of domestic commerce, i.e. retail, wholesale, transport, storage and real estate, aims to provide the necessary backup for explicit, integrated policy planning,
The survey was carried out in a selected number of large, medium and small cities. Markets in small towns were used as proxies for rural markets since organized markets generally do not exist in rural areas and small/medium towns are considered feeding areas to the rural markets. In all, 2000 establishments in retail and wholesale markets, transport, real estate and storage and warehousing were surveyed. The main areas of inquiry in the studies related to firm level characteristics, competitiveness, protection, subsidies and incentive schemes and regulation
Real estate guide vatgre1 issue 2 - finalTareq Azar
This document provides guidance on the application of VAT to real estate transactions in the UAE. It defines real estate and supplies of real estate, and outlines the general VAT liability for different types of real estate supplies. The guidance covers residential and commercial buildings, charitable buildings, bare land, mixed-use developments, owners associations, infrastructure works, and transactions between landlords and tenants. It also discusses place of supply rules, the construction industry, transitional provisions, and a special VAT refund available for new residences. The purpose is to help real estate owners, developers, property managers and others understand how VAT affects their sector.
This document provides a step-by-step guide for developing a quality policy. It outlines five stages for formulating a quality policy, including doing groundwork, strategic planning, drafting the policy, obtaining approval, and implementing the policy. Each stage contains several defined steps to bring stakeholders together, understand needs, gather input, draft the policy, and build consensus around the final approved version. The goal is to establish a robust but practical quality policy that reflects stakeholder priorities and drives continuous improvement.
This document outlines a proposal for an equine therapy program for individuals with mental illnesses at WindReach Farm. It discusses conducting a needs assessment, establishing program goals and a critical path, identifying facilities and equipment needs, staffing requirements, a public relations strategy, and budget. It also covers an implementation plan including safety legislation and an evaluation plan. Additionally, it provides a business plan for WindReach Farm, including a business profile, financial statements, and SWOT analysis. The overall purpose is to utilize horse therapy to promote emotional growth and wellness for those with mental health diagnoses.
This report analyzes the youth labor market in Sierra Leone and evaluates 8 business sectors for their potential to be launched as microfranchise businesses: mobile banking services, ice, water sachets, popsicles and frozen treats, salon services, baked goods, poultry, and mobile phone credit sales. It was prepared by Oakley1008 for the International Rescue Committee to address high youth unemployment in Sierra Leone, where 70% of the population is unemployed and 34% are youth between ages 15-35. The report includes a market and industry analysis of each sector and evaluates them based on their management team potential, scalability, and profitability for a microfranchise model.
This document provides the procedures manual for HCC Procurement Operations. It outlines the mission, vision, purpose and authorities for procurement at HCC. It defines key terms and establishes standards for ethics, conflicts of interest, procurement methods and processes. The manual describes the different types of purchase orders and requisitions, timetables for competitive bidding and proposals, and guidelines for drafting specifications and handling mistakes in bids. It aims to ensure procurement complies with applicable laws and policies in a fair, ethical and efficient manner.
The State of Domestic Commerce in Pakistan Study 10- Synthesis Report idspak
This synthesis report attempts at taking a holistic picture of the survey conducted across five areas of domestic commerce, i.e. retail, wholesale, transport, storage warehousing and real estate.
This document discusses applying technology to address challenges in the global refugee crisis. It examines the roles and responsibilities of various entities involved in using or contributing to technology for refugees, including refugees themselves, aid agencies, host countries, donors, technology companies, and research organizations. It also explores how technology is currently used in refugee settings for internet access, communication, information, education, employment, aid management, and identity issues. The document aims to inform organizations assisting refugees on the effective and ethical use of technology.
This document evaluates the Strategic Decision Support Centers (SDSCs) implemented by the Chicago Police Department.
The SDSCs are real-time crime centers located in each police district that bring together staff, technologies, and data to support policing operations and strategic decision-making. The evaluation assessed SDSC operations, technologies, and the impact on crime rates.
The evaluation found that the SDSCs functioned as intended by facilitating communication and information sharing. Technologies like ShotSpotter, police cameras, and mapping tools supported response to crimes and monitoring of areas. Statistical analyses estimated that SDSCs were associated with moderate reductions in total crime rates of 5-10% in their respective districts.
This document evaluates the Strategic Decision Support Centers (SDSCs) implemented by the Chicago Police Department.
The SDSCs are real-time crime centers located in each police district that bring together staff, technologies, and data to support policing operations and strategic decision-making. The evaluation assessed SDSC operations, technologies, and the impact on crime rates.
The evaluation found that the SDSCs functioned as intended by facilitating communication and information sharing. Technologies like gunshot detection systems and video feeds provided timely data to police. Crime analysis supported strategic planning. However, opportunities for improvement were identified, such as better integrating technologies and standardizing processes across districts.
Statistical analysis found that monthly crime counts, including homic
This document is Telecom Italia's annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 31, 2015. It provides key information on Telecom Italia such as its directors and senior management, selected financial data, description of business units, regulatory environment, transactions with sanctioned countries, property and equipment. It also discusses operating and financial results for the past three years, research and development activities, major shareholders and related party transactions. The report is filed with the US Securities and Exchange Commission and contains information required under international financial reporting standards.
This document is an economic report from 2009 that contains 8 chapters covering various aspects of the economy. Chapter I discusses the international economic environment, including developments in advanced economies, emerging economies, international trade, and oil markets. Chapter II examines national economic policy, covering monetary, exchange rate, fiscal, trade, price and wage, financial, and sector policies. Chapter III analyzes the real sector, including aggregate supply and demand as well as labor market and price conditions. Chapter IV reviews the foreign sector, specifically the balance of payments, exchange rates, and international reserves. Chapter V evaluates public finances, focusing on revenues, expenditures and financing of the restricted public sector and central government. Chapter VI examines monetary aggregates and interest rates. Chapter VII as
Similar to OH Severance Tax Report from Informal Working Group (20)
The document summarizes five key facts about the recovery of US shale oil production:
1) Rig counts have increased by 90% since bottoming out in May 2016 and are up 30% year-over-year, signaling increased drilling and production capacity.
2) While decline rates remain steep, production profiles have increased substantially due to technological advances, meaning aggregate supply will be stronger.
3) Preliminary data shows that net new shale supply turned positive in December 2016 for the first time since March 2015, recovering just 7 months after rig counts increased.
4) Increased drilling activity is supported by a large stock of drilled but uncompleted wells, demonstrating the recovery and expansion of the shale sector.
5)
Quarterly legislative action update: Marcellus and Utica shale region (4Q16)Marcellus Drilling News
A quarterly update from the legal beagles at global law firm Norton Rose Fulbright. A quarterly legislative action update for the second quarter of 2016 looking at previously laws acted upon, and new laws introduced, affecting the oil and gas industry in Pennsylvania, Ohio and West Virginia.
An update from Spectra Energy on their proposed $3 billion project to connect four existing pipeline systems to flow more Marcellus/Utica gas to New England. In short, Spectra has put the project on pause until mid-2017 while it attempts to get new customers signed.
A letter from Rover Pipeline to the Federal Energy Regulatory Commission requesting the agency issue the final certificate that will allow Rover to begin tree-clearing and construction of the 511-mile pipeline through Pennsylvania, West Virginia, Ohio and Michigan. If the certificate is delayed beyond the end of 2016, it will delay the project an extra year due to tree-clearing restrictions (to accommodate federally-protected bats).
DOE Order Granting Elba Island LNG Right to Export to Non-FTA CountriesMarcellus Drilling News
An order issued by the U.S. Dept. of Energy that allows the Elba Island LNG export facility to export LNG to countries with no free trade agreement with the U.S. Countries like Japan and India have no FTA with our country (i.e. friendly countries)--so this is good news indeed. Although the facility would have operated by sending LNG to FTA countries, this order opens the market much wider.
A study released in December 2016 by the London School of Economics, titled "On the Comparative Advantage of U.S. Manufacturing: Evidence from the Shale Gas Revolution." While America has enough shale gas to export plenty of it, exporting it is not as economic as exporting oil due to the elaborate processes to liquefy and regassify natural gas--therefore a lot of the gas stays right here at home, making the U.S. one of (if not the) cheapest places on the planet to establish manufacturing plants, especially for manufacturers that use natural gas and NGLs (natural gas liquids). Therefore, manufacturing, especially in the petrochemical sector, is ramping back up in the U.S. For every two jobs created by fracking, another one job is created in the manufacturing sector.
Letter From 24 States Asking Trump & Congress to Withdraw the Unlawful Clean ...Marcellus Drilling News
A letter from the attorneys general from 24 of the states opposed to the Obama Clean Power Plan to President-Elect Trump, RINO Senate Majority Leader Mitch McConnel and RINO House Speaker Paul Ryan. The letter asks Trump to dump the CPP on Day One when he takes office, and asks Congress to adopt legislation to prevent the EPA from such an egregious overreach ever again.
Report: New U.S. Power Costs: by County, with Environmental ExternalitiesMarcellus Drilling News
Natural gas and wind are the lowest-cost technology options for new electricity generation across much of the U.S. when cost, public health impacts and environmental effects are considered. So says this new research paper released by The University of Texas at Austin. Researchers assessed multiple generation technologies including coal, natural gas, solar, wind and nuclear. Their findings are depicted in a series of maps illustrating the cost of each generation technology on a county-by-county basis throughout the U.S.
Annual report issued by the U.S. Energy Information Administration showing oil and natural gas proved reserves, in this case for 2015. These reports are issued almost a year after the period for which they report. This report shows proved reserves for natural gas dropped by 64.5 trillion cubic feet (Tcf), or 16.6%. U.S. crude oil and lease condensate proved reserves also decreased--from 39.9 billion barrels to 35.2 billion barrels (down 11.8%) in 2015. Proved reserves are calculated on a number of factors, including price.
The document is a report from the U.S. Energy Information Administration analyzing oil and gas production from seven regions in the U.S. It includes charts and tables showing historical and projected production levels of oil and gas from each region from 2008 to 2017, as well as metrics like the average production per rig. The regions - Bakken, Eagle Ford, Haynesville, Marcellus, Niobrara, Permian, and Utica - accounted for 92% of domestic oil production growth and all domestic natural gas production growth from 2011-2014.
Velocys is the manufacturer of gas-to-liquids (GTL) plants that convert natural gas (a hyrdocarbon) into other hydrocarbons, like diesel fuel, gasoline, and even waxes. This PowerPoint presentation lays out the Velocys plan to get the company growing. GTL plants have not (so far) taken off in the U.S. Velocys hopes to change that. They specialize in small GTL plants.
PA DEP Revised Permit for Natural Gas Compression Stations, Processing Plants...Marcellus Drilling News
In January 2016, Gov. Wolf announced the DEP would revise its current general permit (GP-5) to update the permitting requirements for sources at natural gas compression, processing, and transmission facilities. This is the revised GP-5.
PA DEP Permit for Unconventional NatGas Well Site Operations and Remote Piggi...Marcellus Drilling News
In January 2016, PA Gov. Wolf announced the Dept. of Environmental Protection would develop a general permit for sources at new or modified unconventional well sites and remote pigging stations (GP-5A). This is the proposed permit.
Onerous new regulations for the Pennsylvania Marcellus Shale industry proposed by the state Dept. of Environmental Protection. The new regs will, according to the DEP, help PA reduce so-called fugitive methane emissions and some types of air pollution (VOCs). This is liberal Gov. Tom Wolf's way of addressing mythical man-made global warming.
The monthly Short-Term Energy Outlook (STEO) from the U.S. Energy Information Administration for December 2016. This issue makes a couple of key points re natural gas: (1) EIA predicts that natural gas production in the U.S. for 2016 will see a healthy decline over 2015 levels--1.3 billion cubic feet per day (Bcf/d) less in 2016. That's the first annual production decline since 2005! (2) The EIA predicts the average price for natural gas at the benchmark Henry Hub will climb from $2.49/Mcf (thousand cubic feet) in 2016 to a whopping $3.27/Mcf in 2017. Why the jump? Growing domestic natural gas consumption, along with higher pipeline exports to Mexico and liquefied natural gas exports.
This document provides an overview of the natural gas market in the Northeast United States, including New England, New York, New Jersey, and Pennsylvania. It details statistics on gas customers, consumption, infrastructure like pipelines and storage, and production. A key point is that the development of the Marcellus Shale in Pennsylvania has significantly increased domestic gas production in the region and reduced its reliance on other supply basins and imports.
The Pennsylvania Public Utility Commission responded to each point raised in a draft copy of the PA Auditor General's audit of how Act 13 impact fee money, raised from Marcellus Shale drillers, gets spent by local municipalities. The PUC says it's not their job to monitor how the money gets spent, only in how much is raised and distributed.
Pennsylvania Public Utility Commission Act 13/Impact Fees Audit by PA Auditor...Marcellus Drilling News
A biased look at how 60% of impact fees raised from PA's shale drilling are spent, by the anti-drilling PA Auditor General. He chose to ignore an audit of 40% of the impact fees, which go to Harrisburg and disappear into the black hole of Harrisburg spending. The Auditor General claims, without basis in fact, that up to 24% of the funds are spent on items not allowed under the Act 13 law.
The final report from the Pennsylvania Dept. of Environmental Protection that finds, after several years of testing, no elevated levels of radiation from acid mine drainage coming from the Clyde Mine, flowing into Ten Mile Creek. Radical anti-drillers tried to smear the Marcellus industry with false claims of illegal wastewater dumping into the mine, with further claims of elevated radiation levels in the creek. After years of testing, the DEP found those allegations to be false.
FERC Order Denying Stay of Kinder Morgan's Broad Run Expansion ProjectMarcellus Drilling News
The Federal Energy Regulatory Commission denied a request to stay the authorization of Tennessee Gas Pipeline Company's Broad Run Expansion Project. The Commission found that the intervenors requesting the stay did not demonstrate they would suffer irreparable harm if the project proceeded. Specifically, the Commission determined that the environmental impacts to forest and a nearby animal rehabilitation center would be insignificant. Additionally, conditioning authorization on future permits did not improperly encroach on state authority. Therefore, justice did not require granting a stay.
An astonishing, first-of-its-kind, report by the NYT assessing damage in Ukraine. Even if the war ends tomorrow, in many places there will be nothing to go back to.
Essential Tools for Modern PR Business .pptxPragencyuk
Discover the essential tools and strategies for modern PR business success. Learn how to craft compelling news releases, leverage press release sites and news wires, stay updated with PR news, and integrate effective PR practices to enhance your brand's visibility and credibility. Elevate your PR efforts with our comprehensive guide.
04062024_First India Newspaper Jaipur.pdfFIRST INDIA
Find Latest India News and Breaking News these days from India on Politics, Business, Entertainment, Technology, Sports, Lifestyle and Coronavirus News in India and the world over that you can't miss. For real time update Visit our social media handle. Read First India NewsPaper in your morning replace. Visit First India.
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El Puerto de Algeciras continúa un año más como el más eficiente del continente europeo y vuelve a situarse en el “top ten” mundial, según el informe The Container Port Performance Index 2023 (CPPI), elaborado por el Banco Mundial y la consultora S&P Global.
El informe CPPI utiliza dos enfoques metodológicos diferentes para calcular la clasificación del índice: uno administrativo o técnico y otro estadístico, basado en análisis factorial (FA). Según los autores, esta dualidad pretende asegurar una clasificación que refleje con precisión el rendimiento real del puerto, a la vez que sea estadísticamente sólida. En esta edición del informe CPPI 2023, se han empleado los mismos enfoques metodológicos y se ha aplicado un método de agregación de clasificaciones para combinar los resultados de ambos enfoques y obtener una clasificación agregada.
Here is Gabe Whitley's response to my defamation lawsuit for him calling me a rapist and perjurer in court documents.
You have to read it to believe it, but after you read it, you won't believe it. And I included eight examples of defamatory statements/
Acolyte Episodes review (TV series) The Acolyte. Learn about the influence of the program on the Star Wars world, as well as new characters and story twists.
OH Severance Tax Report from Informal Working Group
1. Recommendations and Information Collected by the
Informal Working Group on Ohio's Oil and Gas
Industry and Severance Tax
October 22, 2015
Presented to the Ohio 2020
Tax Policy Study Commission
2. Table of Contents
Introduction .................................................................................................................................. 1
Meeting attendees.................................................................................................................. 2
Mission statement ........................................................................................................................ 3
Overview....................................................................................................................................... 4
Ohio's oil and gas severance tax .......................................................................................... 4
Recent severance tax reform proposals .............................................................................. 5
H.B. 59 of the 130th General Assembly....................................................................... 5
Am. Sub. H.B. 375 of the 130th General Assembly.................................................... 6
H.B. 64 of the 131st General Assembly........................................................................ 8
H.B. 162 of the 131st General Assembly...................................................................... 9
Current state, national, and international oil and gas market............................................. 11
Drilling activity and rig count............................................................................................ 11
Infrastructure and Ohio price concerns............................................................................ 14
Capital environment............................................................................................................ 14
Recent oil and gas price trends .......................................................................................... 14
Cost and efficiency of drilling in Ohio shale.................................................................... 16
Expected Ultimate Recoverables (EUR).................................................................... 17
Ohio regulatory environment .................................................................................................. 18
Division of Oil and Gas Resources Management............................................................ 18
Idle and orphaned well program............................................................................... 18
Recent regulations ........................................................................................................ 18
Road usage maintenance agreements (RUMA)............................................................... 18
Multistate regulatory fee comparisons ................................................................................... 19
Permit and disposal fees ..................................................................................................... 19
Ohio ................................................................................................................................ 19
Arkansas ........................................................................................................................ 20
Colorado ........................................................................................................................ 20
Louisiana........................................................................................................................ 21
North Dakota ................................................................................................................ 21
Oklahoma ...................................................................................................................... 21
4. Pennsylvania ................................................................................................................. 35
Texas............................................................................................................................... 35
West Virginia................................................................................................................. 36
Sales and use tax .................................................................................................................. 37
Ohio ................................................................................................................................ 38
Colorado ........................................................................................................................ 38
North Dakota ................................................................................................................ 38
Pennsylvania ................................................................................................................. 38
Texas............................................................................................................................... 38
West Virginia................................................................................................................. 39
Business taxes ....................................................................................................................... 39
Ohio ................................................................................................................................ 40
Colorado ........................................................................................................................ 41
Louisiana........................................................................................................................ 41
Oklahoma ...................................................................................................................... 41
Pennsylvania ................................................................................................................. 41
Personal income tax............................................................................................................. 42
Ohio ................................................................................................................................ 43
Colorado ........................................................................................................................ 43
Louisiana........................................................................................................................ 43
North Dakota ................................................................................................................ 44
Oklahoma ...................................................................................................................... 44
Multistate workers' compensation comparisons................................................................... 44
Background........................................................................................................................... 44
The Oregon study ................................................................................................................ 44
Oil and gas base rates.......................................................................................................... 46
Multistate severance tax collections and production data................................................... 48
Conclusions and recommendations ........................................................................................ 51
Conclusions........................................................................................................................... 51
Findings and recommendations ........................................................................................ 51
5. -1-
Introduction
Even a casual observer of state government and Capitol Square would probably
note that for the last several sessions of the General Assembly a debate, heated at times,
has been continuing about whether, and if so, how, Ohio should modernize or reform
its severance tax. Hopefully these pages will lead to a greater understanding of the
complexity of this issue and provide insights through comparisons of other states'
approaches to the taxation of oil and gas. Our findings deserve further analysis by the
Ohio 2020 Tax Policy Study Commission to make final recommendations, including a
structure on what a reformed severance tax could look like.
What follows is a recap of why this informal group of bipartisan legislators, staff
members representing all four legislative caucuses, representatives of the three major
oil and gas associations, the Ohio Oil and Gas Association (OOGA), American
Petroleum Institute (API), and Southeastern Ohio Oil and Gas Association (SOOGA),
representatives of individual oil and gas companies, and representatives of several
executive agencies of Ohio's government spent the summer sitting down and talking
not in hyperbole, innuendo, and anecdotes . . . but facts.
As has been widely reported by the press, Section 757.50 of the FY 2016-2017
General Operating Budget (Am. Sub. H.B. 64 of the 131st General Assembly) created the
Ohio 2020 Tax Policy Study Commission. The bill included a specific reference to Ohio's
severance tax as one of the items on which the 2020 Commission should focus.
Unfortunately, a logistical issue arose in that the language creating the Commission was
not effective for 90 days, a constitutionally required waiting period for similar
nonappropriation language. As many had stated, the desired feedback from this
Commission was to have been reported by October 1, which was just a few short days
after its September 29 effective date. The Commission's issuance of a report by this date
therefore became a logistical impossibility. To meet the spirit of the H.B. 64 language,
the informal group mentioned above, led by Senate Ways and Means Committee Chair
Senator Bob Peterson and the House Ways and Means Committee Chair Jeff McClain,
met over the summer listening and collecting data and gathering information from the
industry and the Administration. This in and of itself was unique. While all of the
previous legislative debates included only some of these interested parties, never were
all of them brought together.
One of the main focuses was the comparison of Ohio's regulatory environment and
tax structure compared to other similar oil and gas producing states. As is highlighted by
a quote from former OOGA Executive Director Tom Stewart later in these pages,
comparisons are helpful but every state's approach differs because of geographical,
technological, political, and infrastructure differences (see "Multistate tax comparisons").
While much of Ohio's "30,000 foot level" discussions are simply about "the severance tax
6. -2-
on oil," Ohio's potential and significant advantages are not in oil, but in gas. For these
reasons and others, the working group chose for comparison to Ohio the eight states of
Arkansas, Colorado, Louisiana, North Dakota, Oklahoma, Pennsylvania, Texas, and West
Virginia.
Ohio's severance tax debate has focused only on oil, condensate, natural gas, and
natural gas liquids and has excluded all other minerals or resources that have been and
are being extracted from Ohio's landscapes. The working group does not recommend
any changes to the severance taxes for coal or industrial minerals.
As previously mentioned, this issue spans several sessions of the General
Assembly and has spurred a number of legislative proposals, four of the more recent
being summarized below. Over that time there has been tremendous volatility and
downward pressure on commodity prices that continue to have a negative impact on
Ohio's oil and gas industry. The change in market prices for these materials is putting
Ohio's shale oil and gas industry under financial stress. All parties are optimistic that
the current market will improve and commodity prices for oil and gas will again rise,
but the cliché of not having a crystal ball does make forecasting this recovery of spot
prices difficult, to say the least. As mentioned above, further analysis by the Ohio 2020
Tax Policy Study Commission may provide more clarity on whether the recent market
gyrations are short- or long-term.
Complicating the debate in Ohio is the fact that Ohio's quarterly production
levels are continuing to set production records while rig counts and the number of new
wells being drilled are falling sharply. The group spent time discussing this issue and
getting a better understanding of why production from existing wells may lag
immediate market indicators.
Meeting attendees
The following individuals or groups, in addition to Senator Peterson and
Representative McClain, have attended at least one meeting of this informal working
group (note that the appearance of an individual's or group's name below does not
reflect that individual's or group's endorsement of these findings):
Southeastern Ohio Oil & Gas Association (SOOGA)
American Petroleum Institute (API)
Ohio Oil & Gas Association (OOGA)
Office of the Governor
Ohio Department of Natural Resources (ODNR)
7. -3-
Ohio Department of Taxation (ODT)
Gary Scherer – State Representative 92nd House District
Kirk Schuring – State Representative 48th House District
Troy Balderson – State Senator 20th State Senate District
Industrial Energy Users – Ohio
Gulfport
Marathon
Jack Cera – State Representative 96th House District
Majority Caucus, Ohio Senate
Minority Caucus, Ohio Senate
Majority Caucus, House of Representatives
Minority Caucus, House of Representatives
Staff of Senator Tavares
Staff of Senator Peterson
Staff of Senator Balderson
Staff of Representative Scherer
Mission statement
One of the first actions of the informal working group was to adopt the following
mission statement and guiding principles:
To update Ohio's severance tax to make it comparative with other shale play states across
the nation. The new revenues generated will be used as follows:
Assist local governments in shale play counties to improve infrastructure,
equipment, and services that will accommodate the oil and gas industry and also
benefit the citizens within their counties.
Facilitate making adjustments to Ohio's income tax or possibly other taxes in an
effort to make Ohio more competitive in the national and international
marketplace.
Invest in asset building opportunities that will grow Ohio's economy and
improve the quality of life of all Ohioans.
8. -4-
Overview
Ohio's oil and gas severance tax
Ohio levies a severance tax based on the volume of oil and gas extracted from the
ground and waters of Ohio. This tax consists of two separate levies – a general
severance tax and a regulatory cost recovery assessment. The general severance tax is
imposed at 10¢ per barrel of oil and 2.5¢ per 1,000 cubic feet (Mcf) of natural gas, and
the cost recovery assessment is imposed at 10¢ per barrel of oil and 0.5¢ per Mcf of
natural gas. Cumulatively, the rates equal 20¢ per barrel of oil and 3¢ per Mcf of natural
gas.1
Revenue from the general oil and gas severance tax funds two divisions within
Ohio's Department of Natural Resources (DNR). Ninety percent of the revenue is
credited to the Oil and Gas Well Fund, which funds the activities of DNR's Division of
Oil and Gas Resources Management Division, i.e., the administration and enforcement
of oil and gas laws, idle and orphaned well plugging, and gas- and oil-affected land
restoration.2
Ten percent of the revenue is credited to the Geological Mapping Fund,
which funds the activities of DNR's Division of Geological Survey, i.e., to map and
make public reports on Ohio geology, geologic hazards, and energy and mineral
resources.3
All cost recovery assessment collections are credited to the Oil and Gas Well
Fund.4
The table below shows the combined collections on oil and gas for the previous
five fiscal years.
Combined Collections from Oil and Gas Severance Tax and Cost Recovery Assessment
Combined Rate Revenue Base FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
3 cents per Mcf Natural Gas $2,466,700 $2,458,828 $2,724,239 $3,984,135 $17,253,141
20 cents per barrel Oil $949,772 $934,223 $1,135,774 $1,305,149 $3,077,393
Total Receipts $3,416,472 $3,393,051 $3,860,012 $5,289,284 $20,330,534
The table below illustrates the disposition of the combined severance collections
from oil and gas. Please note that these two funds have additional revenue sources
beyond those shown here. These additional sources include permitting fees and license
1
R.C. 1509.50 and 5749.02.
2 R.C. 1509.02, 1509.071, and 5749.02.
3 R.C. 1505.09 and 5749.02.
4
R.C. 1509.50.
9. -5-
fees related to the oil and gas industry as well as severance tax receipts from other types
of minerals in unrelated mining activities.
Disposition of Oil and Gas Revenue from Severance Tax and Cost Recovery Assessment
Fund Name Number FY 2011 FY 2012 FY 2013 FY 2014 FY 2015
Oil and Gas Well Fund 5180 $3,163,425 $3,141,437 $3,576,204 $4,892,015 $18,738,902
Geological Mapping Fund 5110 $253,047 $251,613 $283,809 $397,269 $1,591,631
Total Receipts $3,416,472 $3,393,051 $3,860,012 $5,289,284 $20,330,534
Recent severance tax reform proposals
Beginning in 2012, several proposals have been unveiled to reform the rates,
base, and revenue distribution of the oil and gas severance tax. For the most part, these
proposals have focused in particular on the taxation of oil and gas from horizontal
wells, i.e., wells drilled for the production of oil or gas in which the wellbore reaches a
horizontal or near horizontal position in the Point Pleasant, Utica, or Marcellus shale
formation.5
In addition, most of the proposals sought to repeal the cost recovery
assessment. Four more recent attempts to reform oil and gas severance taxes – H.B. 59
and Am. Sub. H.B. 375 of the 130th General Assembly and H.B. 64 and H.B. 162 of the
131st General Assembly – are summarized below.
Other recent proposals to reform oil and gas severance taxes include H.B. 487 of
the 129th General Assembly and H.B. 212 and H.B. 472 of the 130th General Assembly.
H.B. 59 of the 130th General Assembly
The introduced version of H.B. 59 of the 130th General Assembly would have
made the following reforms related to the oil and gas severance tax:
Repealed the cost recovery assessment.
Increased the rate of severance tax levied on oil and gas severed by a
nonhorizontal well up to the combined rate of the repealed cost recovery
assessment and the existing rate of severance tax on oil and gas, but
would have capped the rate on gas at 1% of market value (quantity
multiplied by a determined spot price).
Levied a severance tax at a rate of 4% of the market value of oil and
condensate produced by horizontal wells after the first five quarters in
which a well produces, and a reduced 1.5% rate for the first five quarters.
5
R.C. 1509.01.
10. -6-
Levied a severance tax at a rate of 1% of the market value of gas on gas
measuring 1,050 British Thermal Units (BTU) or less produced by
horizontal wells.
Levied a severance tax on gas measuring more than 1,050 BTU at a rate
that varies according to the BTU of the gas and the spot price of gas and
natural gas liquids (NGLs), with a base rate for gas of 1% and for NGLs of
4% after the first five quarters in which a well produces and 1.5% for the
first five quarters.
Distributed revenue from severance taxes on horizontal well extractions to
the GRF.
Exempted from severance tax gas produced by a nonhorizontal well that
produces fewer than 10 Mcf of gas per day in a calendar quarter.
Required a horizontal well owner to pay a $25,000 fee to the county in
which the well is located, distributes the fees to taxing units affected by
the well's operation, and requires the taxing units to repay the fee to
owners over subsequent years.
For the purpose of property tax valuation, calculated the true value of gas
reserves based on the BTU of the gas extracted and the true value of
condensate reserves similar to how oil reserves were currently valued for
that purpose.
Am. Sub. H.B. 375 of the 130th General Assembly
Am. Sub. H.B. 375 of the 130th General Assembly, as Passed by the House of
Representatives, would have made the following reforms related to the oil and gas
severance tax:
Reduced the existing severance tax rate on gas extracted through use of a
nonhorizontal well.
Repealed the cost recovery assessment.
Levied a new severance tax on oil and gas severed through use of a
horizontal well in lieu of the existing volume-based tax, to be paid by the
person that owns the oil or gas on the basis of the person's receipts from
the first sale of that oil or gas.
Imposed the new tax at the rate of 2.5%.
11. -7-
Exempted the first $10 million of receipts, less royalty payments, from the
sale of oil or gas from a horizontal well that began producing on or after
October 1, 2013.
Created the 11-member Ohio Shale Gas Regional Commission to
administer and, with the approval of the Ohio Public Works Commission,
award a portion of oil and gas severance tax revenue to subdivisions in
the shale region.
Allocated revenue from the new and existing oil and gas severance taxes
to fund oil and gas regulatory programs of the Department of Natural
Resources, made distributions to local governments, and provided
temporary income tax reductions through the Income Tax Reduction Fund
in the following priority:
o The first $21 million to fund DNR's oil and gas functions;
o Up to 17.5% of the total revenue to reimburse local governments for
Local Government Fund and Public Library Fund reductions
caused by an income tax credit and commercial activity tax (CAT)
exclusion created by the bill, with any remainder of that 17.5%
share used to fund local government infrastructure in areas with
actively producing horizontal wells and to create an endowment
fund for local governments in such areas;
o Any remainder was applied to temporary income tax reductions.
Created a new Well Plugging Program in DNR to catalog and prioritize
the plugging of idle and orphaned oil and gas wells.
Created a new fund solely for funding activities related to the plugging of
idle and orphaned oil and gas wells.
Required DNR to investigate oil and gas wells to determine whether they
are idle or orphaned if the owners thereof failed to file production reports.
Adjusted the due date of severance tax returns.
Created a nonrefundable credit against the horizontal well severance tax
equal to the amount a severer pays in CAT on the basis of receipts from
the sale of the same oil and gas.
12. -8-
Created a nonrefundable income tax credit for royalty interest holding
landowners that equaled the lesser of 12.5% of the amount of oil and gas
severance tax paid by a severer or the amount of the tax for which the
landowner is responsible.
Excluded from the tax base of the CAT any gross receipts from the sale of
oil or natural gas subject to oil or gas severance taxes, provided the
severer or its pass-through owners are subject to income tax on the income
from that sale.
Required JobsOhio to prepare a report on and encourage industries to
relocate to Ohio to take advantage of inexpensive energy in certain Ohio
counties.
H.B. 64 of the 131st General Assembly
The introduced version of H.B. 64 of the 131st General Assembly would have
made the following reforms related to the oil and gas severance tax:
Repealed the cost recovery assessment.
Increased the rate of severance tax levied on oil and gas severed by a
nonhorizontal well up to the combined rate of the repealed cost recovery
assessment and the existing rate of severance tax on oil and gas.
Exempted from severance tax any gas severed from a nonhorizontal well
producing an average of 10 Mcf of gas per day or less or an exempt
domestic well, but subjected the owners of most such wells to a $60
annual fee.
Levied a new value-based severance tax on oil, gas, condensate, and NGLs
severed from or collected from oil or gas severed from a horizontal well
based on the volume of the resource severed or collected.
Divided revenue from the new tax among oil and gas regulatory functions
of DNR, the General Revenue Fund, and local governments in areas of the
state with drilled horizontal wells or oil and gas shale development.
Created the 13-member Ohio Shale Products Regional Commission to
make grants to local governments in the shale region, with one-half of the
revenue from the new tax allocated for local governments.
Committed one-half of the revenue administered by the Commission to an
endowment fund that cannot be used until 2025.
13. -9-
Eliminated a severance tax exemption for severed resources used to
improve the severer's homestead.
Transferred the severance permit responsibilities from the Department of
Taxation to DNR.
Adjusted the due dates of severance tax returns.
Required severance tax revenue to be credited to funds on a monthly,
rather than quarterly, basis.
Limited the ability of DNR to disclose severance tax information received
by the Tax Commissioner.
H.B. 162 of the 131st General Assembly
H.B. 162 would have made the following reforms related to the oil and gas
severance tax:
Modified the rate and base of the severance tax on oil and gas, including
condensate and NGLs, produced from horizontal wells.
Set the modified tax base as the quantity of each such hydrocarbon
multiplied by a spot price for each hydrocarbon.
Repealed the cost recovery assessment.
Adjusted the rate of the severance tax on oil and gas from nonhorizontal
wells to the combined rate of the repealed assessment and the existing rate
of severance tax on oil and gas.
Created a credit against the horizontal well hydrocarbon severance tax
equal to the amount a severer pays in CAT on the basis of receipts from
the sale of the same oil and gas.
Modified the distribution of revenue from hydrocarbon severance taxes
for the following purposes:
o To reimburse local governments for Local Government Fund and
Public Library Fund losses resulting from the bill's new tax credits
(see below);
o To provide a fixed annual amount to fund the oil and gas
regulatory and orphaned and idle well plugging functions of DNR;
14. -10-
o To fund the general operations of local governments in the shale
region;
o To fund township road repairs and construction in the shale region;
o To fund two grant programs for local governments in the shale
region administered by a new Ohio Shale Gas Regional Committee;
o To fund local government infrastructure projects outside the shale
region;
o To fund state highway repairs and construction within the shale
region;
o To provide grants for firefighting and EMT equipment in the shale
region;
o To fund soil and water districts in the shale region;
o To provide grants to local governments and school districts to
convert their vehicles to compressed natural gas fuel.
Created the Ohio Shale Gas Regional Committee to administer two grant
programs for local governments in the shale region.
Required the Ohio Public Works Commission to assist that Committee in
administering those grant programs.
Established the Gaseous Fuel Vehicle Conversion Program, to be
administered by the Director of Environmental Protection.
Permitted the Director to make grants to eligible public entities and
nonprofit corporations for the purpose of promoting the use of vehicle
fleets that operate on cleaner fuels.
Created a new well plugging program in DNR to catalog and prioritize
the plugging of idle and orphaned oil and gas wells.
Created a new fund solely for funding activities related to the plugging of
idle and orphaned oil and gas wells.
Adjusted the due date of severance tax returns.
15. -11-
Created an income tax credit for royalty interest-holding individual
landowners based on the hydrocarbon severance tax paid and for which
the landowner is contractually responsible.
Excluded from the base of the CAT gross receipts from the sale of
hydrocarbons subject to severance taxes, provided the severer or its pass-
through owners are subject to income tax on the income from that sale.
Current state, national, and international oil and gas market
Drilling activity and rig count
Commercial enterprises began horizontal drilling in the Utica shale formation
during 2011. As the number of drilling rigs increased, more wells were completed, and
production increases followed. The U.S. Energy Information Administration (EIA)
defines the Utica shale region as 20 counties in Ohio. For statistical purposes, the agency
does not regard any Ohio counties as part of the Marcellus shale region. EIA data show
that natural gas production (refer to Chart A) and oil production (see Chart B) in the
Utica shale formation increased substantially beginning in July 2013. These monthly
gains in oil and gas production have moderated since the spring of 2015. In part, this is
due to the decrease in newly drilled wells. The number of drilling rigs peaked in
October and November of 2014. Since then, the Utica rig count has declined to levels
last seen in 2011.
0
5
10
15
20
25
30
35
0
500
1,000
1,500
2,000
2,500
3,000
Chart A: Utica shale natural gas production and drilling rig count
Million cubic feet produced per day (left axis) Rig Count (right axis)
16. -12-
DNR's map on the next page marks the location of every horizontal well in Ohio
as of October 3, 2015.6
6
Map is available at http://oilandgas.ohiodnr.gov/Portals/oilgas/pdf/activity_maps/Horizontal
Wells_MonthlyUticaPagesize_10032015.pdf.
0
5
10
15
20
25
30
35
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
Chart B: Utica shale oil barrel production and drilling rig count
Oil barrels produced per day (left axis) Rig Count (right axis)
18. -14-
Infrastructure and Ohio price concerns
Supply and demand issues are problematic for the industry. Ohio's intrastate
pipelines, including gathering lines, are still being developed. Until this infrastructure
can be developed or at least takes significant steps forward, there will be some artificial
limits on the commodities that can be brought to market. These factors tie into interstate
pipelines where significant competition exists from other shale production, including
that from Pennsylvania and West Virginia. Ohio does not currently have large
industrial users of gas for the amount that is being produced in Ohio. At $100 per barrel
of oil and commensurate natural gas prices, these issues can be overcome by using
expensive transportation options to bring the commodity to the best market. But, at
lower or depressed commodity prices, options such as shipping oil and gas to Florida or
the Gulf Coast, while still available, become cost prohibitive.
In short, currently depressed prices are problematic for the industry, and
oversupply and limited consumption is resulting in further stress.
Capital environment
When commodity prices are depressed, so too are returns on the underlying
investments. Investor money, whether from a bank or private investor, will follow the
more profitable plays. The good news is this dynamic is very sensitive to changes in
commodity prices such that increases in those prices will likely bring capital back to
Ohio companies.
Recent oil and gas price trends
As discussed above, multiple bills have proposed changes to the oil and gas
severance tax since 2012. While several initiatives were part of the biennial operating
budget or Mid-Biennium Review (MBR), others were standalone bills. This period of
legislative activity coincided with fluctuations in commodity prices (refer to the table
below). Generally, the oil price has trended downward since early 2014 after remaining
steady for the prior two years (see Chart C). Meanwhile, the national benchmark for
natural gas increased in 2012 and 2013 before peaking during the "polar vortex" weather
disruptions of 2014 (refer to Chart D). Natural gas prices declined since then, and
regional prices have fallen even further. All natural gas prices are expressed in British
thermal units (BTU), which is a measure of the gas's heat content. This value is very
similar to the price expressed per Mcf, which is a volumetric measure of gas.
19. -15-
Commodity Prices on Dates when Relevant
Severance Tax Legislation Introduced
Legislation Date
Oil,
price per barrel
Natural gas,
price per million BTU
H.B. 487 of the 129th General Assembly (MBR) 3/16/2012 $107.03 $2.01
H.B. 59 of the 130th General Assembly (Budget bill) 2/12/2013 $97.48 $3.30
H.B. 212 of the 130th General Assembly 6/18/2013 $98.46 $3.87
H.B. 375 of the 130th General Assembly 12/4/2013 $96.97 $3.90
H.B. 472 of the 130th General Assembly (MBR) 3/11/2014 $100.29 $4.67
H.B. 64 of the 131st General Assembly (Budget bill) 2/11/2015 $48.80 $2.86
H.B. 162 of the 131st General Assembly 4/21/2015 $55.58 $2.59
Note: Natural gas prices are based on immediate delivery at the Henry Hub in Louisiana; they reflect the spot price from the New York
Mercantile Exchange. Oil prices are for the West Texas Intermediate crude stream, which is traded in the domestic spot market at
Cushing, Oklahoma. Both data sets are reported by the U.S. Energy Information Administration.
$20
$40
$60
$80
$100
$120
Chart C: West Texas Intermediate oil price, dollars per barrel
20. -16-
Cost and efficiency of drilling in Ohio shale
Some of the most difficult data to find is accurate and up-to-date data on the cost
of drilling in various states, including Ohio. API provided the following chart with
drilling costs in various states. The data shows per foot drilling costs from 2013.
Compiling this data is no easy task and surveying the companies and compiling the
data likely took a year or so. The point is that this data might have been compiled more
than three years ago, near the beginning of shale exploration in Ohio. As a result, Ohio's
cost curve for efficiencies and cost-per-foot drilling had not started downward because
the shale play was in its infancy. However, other states' data might be from that state's
4th, 5th, or even 6th year of drilling activity, at a time when these efficiencies improve
and are reflected in this data. In 2013, Illinois had not yet issued a shale well permit but
had other types of drilling. The API chart inaccurately included Illinois data. Ohio has
certainly been a leader in improving efficiencies in drilling in general and especially in
the increasing length of lateral lines as we now enter years three and four of our shale
play and as the industry has learned the dynamics of the Utica shale formation. Again,
an apples to apples comparison is difficult here.
With those and other qualifiers, the chart provided by API shows the cost-per-
foot of wells in Ohio varies among the same costs in other states with the average cost
in the Ohio Utica basin being a little higher than the middle of the pack – less expensive
per foot than Pennsylvania, West Virginia, and Louisiana, but more expensive than
Texas, Kentucky, and North Dakota. What was once a 13 to 15 county footprint for
drilling activity in southeastern Ohio has contracted because of commodity price
fluctuations to only a small handful of counties in that region. Small changes in
commodity prices can dramatically expand the footprint of drilling activity.
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
Chart D: Henry Hub natural gas price, dollars per million Btu
21. -17-
As a counterpoint, Ohio wells generally are deeper and the lateral lengths are
longer. The difference between the geography of a well in Ohio and areas of West
Virginia and Pennsylvania close to Ohio's border is minimal. Technological advances
and efficiencies have increased and will continue to improve within the industry, and
these factors are constantly acting as a counterpoint to the cost of drilling in Ohio.
Expected Ultimate Recoverables (EUR)
A possibly useful measurement for analyzing and predicting production levels
against other economic factors is "expected ultimate recoverables" (EUR). An industry
study was presented during one of the interested party meetings that used a standard
formula for determining EURs – in other words, quantifying total production of a well
from inception to abandonment. Given that two wells could be producing different
rates of oil and gas, the price in the marketplace was used to convert oil and gas values.
The research used the MCFE (natural gas equivalent) as the single equivalent measure
for the purposes of the study. The advantage of a single equivalent was the ability to
make apples to apples comparisons of fields, wells, and assets of two different
companies, ultimately leading to the conclusion of where the best production was
located. Using EUR measurements, the study aimed to generate EUR maps and
22. -18-
estimate the area competitive for new well drilling under various severance tax
burdens, as well as develop a cash flow model for evaluating the economics for the base
and future cases under increased severance tax rates.
Ohio regulatory environment
Division of Oil and Gas Resources Management
DNR's Division of Oil and Gas Resources Management is responsible for
regulating the permitting, drilling, and production of Ohio's oil and natural gas
resources. The Division's authority includes programs to protect freshwater resources,
plug abandoned oil and gas wells (see below), and maintain a comprehensive database
of Ohio's production wells.
The Division has worked with the oil and gas industry, the Ohio General
Assembly, as well as other agencies and interested parties during the past five years to
amend the regulatory framework affecting the oil and gas industry.
Idle and orphaned well program
The Division, in addition to its other functions, has a statutory duty to plug wells
that have been abandoned or for which the bond has been forfeited, i.e., idle and
orphaned wells, and restore land affected by those wells and to take corrective actions
to avoid imminent health or safety risks at an idle and orphaned well or a well for
which the owner cannot be contacted. The Division is currently required to dedicate at
least 14% of the revenue credited to the Oil and Gas Well Fund to these purposes.7
Recent regulations
The Division of Oil and Gas Resources recently adopted horizontal well site
construction rules imposing new requirements that, based on the industry's feedback
and historical experience, are likely to be costly for operators designing and
constructing horizontal well pads. Their concerns are that new slope stability and
geotechnical requirements that are unrelated to site-specific conditions, and
professional engineer certifications, are likely to increase costs.
Road usage maintenance agreements (RUMA)
Ohio law authorizes counties, townships, and municipal corporations to enter
into agreements with oil and gas well companies under which the company identifies
which county, township, or municipal roads the owner will use to access the well. Upon
identifying those roads, the company will generally agree to pay to improve those roads
7
R.C. 1509.01(CC) and 1509.071.
23. -19-
to withstand use by company vehicles and to repair roads damaged by the company's
vehicles. Particular RUMAs may contain additional terms.8
Companies are not required to obtain a RUMA to drill a well and operate
vehicles on public roads. However, as a condition of receiving a permit to drill a
horizontal well, a company is required to either submit a RUMA for each county,
township, and municipal corporation road that the applicant will use to access the well
site or certify that the company attempted in good faith to enter into such a RUMA.9
Neither Ohio, nor any of the eight states compared to Ohio below, authorize a company
to reduce its state tax liability according to the amount the company pays to maintain or
improve public roads pursuant to a RUMA.
Multistate regulatory fee comparisons
The regulatory fees and bond and insurance requirements to which the oil and
gas industry are subject varies in each state. The informal working group has chosen to
examine eight states with oil and gas activity and resources similar or comparable to
Ohio. Below, regulatory fees and requirements that the oil and gas industry may be
subject to in Ohio, Arkansas, Colorado, Louisiana, North Dakota, Oklahoma,
Pennsylvania, Texas, and West Virginia are examined according to each regulatory
issue. The issues compared include drilling permit and waste disposal fees and surety
bond and liability insurance requirements.
Permit and disposal fees10
Most of the states included in this comparison charge a permit application fee
that varies depending on the type of permit sought. However, only Ohio charges a
disposal fee per barrel of waste. Additionally, states vary in how they establish oil and
gas fees. Some establish them in statute while others authorize a state agency or
commission to establish them, usually by rules.
Ohio
Drilling permit fees in Ohio range from $500 to $1,000, depending on the type of
permit sought and the location of the well. For example, a permit to drill a well in a
township with a population of fewer than 10,000 costs $500.11
8
See Ohio Att'y Gen. Op. 2012-029 (describing the general nature of RUMAs).
9
R.C. 1509.06(A)(11).
10
Information provided under this heading, with the exception of Ohio, came from the National
Conference of State Legislatures.
24. -20-
A permit is also generally required to store, recycle, treat, or dispose of brine or
other waste substances, and a fee of $2,500 must accompany an application for a permit
to do so.12 In addition, a permit and a permit fee of $1,000 are required to inject brine or
other waste substances.13
Disposal fees are also levied on the owner of an injection well who has been
issued a permit. These fees are 5¢ per barrel when the waste delivered to the well to be
injected was produced within the Division of Oil and Gas Resources Management
regulatory district in which the well is located or an adjoining district and 20¢ per barrel
for waste delivered to the well to be injected when the waste is not produced within the
district or an adjoining district. The maximum number of barrels on which the fee must
be paid is 500,000.14
Arkansas
Arkansas grants the Arkansas Oil and Gas Commission (AOGC) the authority to
establish fees as it deems appropriate. At the same time, the state stipulates a minimum
$150 permit fee and limits the fee to a maximum of $300.15
It appears that the AOGC
generally charges $300. Arkansas also assesses permit fees for injection and disposal
wells. The application fee may not exceed $100 for each injection well or disposal well.
However, the AOGC may charge a $300 fee to drill a disposal or injection well, which it
does.16
No specific fees for disposal per barrel of waste appear to be assessed in
Arkansas.
Colorado
Permit and disposal fees are not charged in Colorado. The Colorado Oil and Gas
Conservation Commission is authorized to charge permitting fees.17 Under rules
adopted by the Commission, the charge for any type of permitting is currently $0.18
11
R.C. 1509.06(G)(1).
12
R.C. 1509.22(C).
13
R.C. 1509.22(D)(1).
14
R.C. 1509.22(H)(1) and (2).
15
Ark. Stat. § 15-72-205 (2015).
16 Ark. Stat. § 15-71-110.
17
Colo. Rev. Stat. § 34-60-106 (2015).
25. -21-
It appears that Colorado charges no specific disposal fee per barrel of waste.
Louisiana
Louisiana establishes a fee structure for specific types of activities and facilities,
including permit amendment and revision and application for a commercial facility
exclusive of an associated well. These fees range from $50 to $3,000. However, the
Commissioner of Conservation of the Office of Conservation in the Department of
Natural Resources is authorized to revise the fees.19
It appears that Louisiana does not charge a specific disposal fee per barrel of
waste.
North Dakota
The authority to establish permit and disposal fees has been granted to the North
Dakota Industrial Commission's Oil and Gas Division.20 The drilling permit fee
currently equals $100.21
It appears that North Dakota does not charge a specific disposal fee per barrel of
waste.
Oklahoma
The Oklahoma Corporation Commission has authority to establish permit
application fees. The Commission charges a $175 fee for a drilling permit. Additionally,
application fees for disposal wells range from $100 for a noncommercial disposal well to
$1,000 for a commercial well.22
Oklahoma appears not to charge specific per-barrel waste disposal fees.
18
Colo. Code Regs. § 404-1, appendix III (2015).
19
La. Rev. Stat. § 30:21 (2015).
20
N.D. Cent. Code § 38-22-05 (2015).
21 N.D. Admin. Code § 43-02-03-16 (2015).
22
Okla. Admin. Code § 165:5-3-1 (2015).
26. -22-
Pennsylvania
Pennsylvania's permit fees are established in statute and range from $200 to
$5,000, based on several variables. These include depth of the well and whether the well
is conventional or unconventional.23
Disposal fees are not assessed by Pennsylvania.
Texas
Texas' Oil and Gas Division of the Railroad Commission has established permit
fees. In addition to a specified permit fee, a 150% surcharge also is imposed. The fees
range from $200 (plus a $300 surcharge for a total of $500) for a permit to drill less than
2,000 feet to $300 (plus a $450 surcharge for a total of $750) for a permit to drill more
than 9,000 feet. Disposal wells require a permit application fee of $100.24
Texas appears not to assess disposal fees.
West Virginia
West Virginia sets forth certain statutory permit application fees. A permit fee of
$400 is required for each drilling permit application unless the application is for a deep
well, in which case the fee is $650.25 However, the Secretary of the Department of
Environmental Protection has established additional permit fees. These fees range from
$100 for a permit to dispose of well work fluids to a $10,000 well work fee for an initial
6HA horizontal well on a pad.26
It appears that West Virginia imposes no specific per-barrel fee for disposal of
waste.
Surety bonds and liability insurance27
Each comparison state requires drillers to provide financial assurance such as
bonds or cash securities. While three of the states – Colorado, Ohio, and Pennsylvania –
require liability insurance, only Ohio and Colorado actually require insurance to be
23
25 Pa. Cons. Stat. § 78.19 (2015).
24
16 Tex. Admin. Code § 3.78 (2015).
25
W. Va. Code § 22-6-2 (2015).
26
West Virginia Department of Environmental Protection, "Fee Schedule," http://www.dep.wv.gov/oil-
and-gas/GI/Pages/Fee%20schedule.aspx (last visited September 24, 2015).
27
Information provided under this heading, with the exception of Ohio, came from the National
Conference of State Legislatures.
27. -23-
filed with the state. As with permit fees, while some of the states establish the
requirements in statute, a number of them grant rule-making authority to state agencies
or commissions to establish bond requirements. A few states such as Arkansas,
Colorado, and Louisiana have established a series of contingencies and circumstances
that trigger higher bond amounts.
Ohio
Ohio requires oil and gas drillers to provide surety bonds. An individual bond
covering a single well must be provided in the amount of $5,000, or a blanket bond
covering all wells operated by the person must be in the amount of $15,000.28
Owners of wells are also required to obtain liability insurance as follows:
Not less than $1 million in bodily injury and property damage coverage
unless the well is located in an urbanized area;
If the well is located in an urbanized area, not less than $3 million in
bodily injury and property damage coverage; or
If the well is a horizontal well, not less than $5 million in bodily injury and
property damage coverage.29
Arkansas
The Arkansas Oil and Gas Commission (OAGC) has adopted rules establishing
bonding requirements for oil and gas drillers. The OAGC requires a minimum of $3,000
per well posted as cash, corporate surety, or a bank letter of credit. Alternatively,
blanket bonds may be posted. For one to 25 wells, the bond is $25,000; for 26 to 100
wells, the bond is $50,000; for more than 100 wells, the bond is $100,000.30
However, the rules only specify the base amount, according to an AOGC official,
and there is another bonding structure in addition to this that is not published. For
example, an individual well applicant might be required to have bonding of up to
$9,000 in addition to the minimum of $3,000 depending on several variables, including
how long the operator has been in the state, whether the well is in an environmentally
sensitive area, and whether it is near hydrogen sulfide gas formations. As another
example, a blanket bond applicant with 15 wells might be required to have similar
28
R.C. 1509.07; Ohio Admin. Code 1501:9-1-03 (2015).
29 R.C. 1509.07.
30
178-00 Ark Code R. § 001(B-2) (2015).
28. -24-
incremental additions in addition to the minimum bond of $25,000. However, the
maximum bonding currently required of operators in Arkansas is $250,000.
Arkansas does not require liability insurance.
Colorado
In Colorado, surety bond and liability insurance requirements are set by the
Colorado Oil and Gas Conservation Commission. The bond requirements are complex
and depend on several factors. For example, a surface well on nonirrigated land
requires a $2,000 bond while a surface well on irrigated land requires a $5,000 bond.
There is also the option of a $25,000 statewide blanket bond for surface wells. Similar
bond amounts are required under other classifications. There are also separate plugging
bonds, which are supplemental to the other bond requirements and can go as high as
$100,000 for a blanket bond for more than 100 wells.31
The Commission requires all
operators to maintain general liability insurance for bodily injury and property damage
in the minimum amount of $1 million.32
Louisiana
Louisiana requires financial security to be filed in the form of a certificate of
deposit, a performance bond, a letter of credit, or a trust fund. The amount varies
depending on several factors that include the depth of a well, the number of wells, and
the location of the wells. The amounts for land-based wells range from $50,000 to
$500,000, for inland water-based wells from $250,000 to $2.5 million, and for offshore
wells from $500,000 to $5 million. The Commissioner has authority to require additional
security for plugging and abandonment.33
The state does not explicitly require operators to carry liability insurance.
North Dakota
North Dakota requires a $50,000 surety of cash bond per well although wells
drilled to less than 2,000 feet may be bonded for less upon the approval of the Director
of the Industrial Commission. Similarly, blanket bonds in the amount of $100,000 may
be used to cover the operation of multiple wells.34
31
Colo. Code Regs. § 404-1(702-707).
32
Colo. Code Regs. § 404-1(708).
33 La. Admin. Code tit. 43, § XIX.104 (2015).
34
N.D. Admin. Code § 43-02-03-15 (2015).
29. -25-
Additionally, North Dakota requires an operator to demonstrate and maintain
financial responsibility using one of several means. These include trust funds, surety or
cash bonds, letters of credit, insurance, self-insurance, and escrow accounts. Liability
insurance is not required if one of the other forms of financial responsibility is
provided.35
Oklahoma
In Oklahoma, an operator is required to file either a financial statement listing
assets and liabilities and proving a net worth of at least $50,000 or a $25,000 surety
bond; although the law leaves some discretion to the Director of the Conservation
Division to adjust the amount of the surety bond. The law allows for an operator to file
a surety bond of lesser value so long as the bond is sufficient to cover the cost of
properly plugging and abandoning every well for which the operator is responsible.
Similarly, the bond amount may be set higher at the discretion of the Director.36
Oklahoma does not require drillers to carry liability insurance.
Pennsylvania
Pennsylvania accepts both surety bonds and collateral bonds. The state
establishes bond liability based on the estimated cost of closing an operation in addition
to the costs associated with testing the site in order to determine there are no lingering
adverse effects upon closure. The amounts range from $4,000 for a single well to
$600,000 for a blanket bond covering more than 150 wells.37
Pennsylvania law requires a comprehensive general liability insurance policy
having a minimum coverage of $500,000 per occurrence for property damage and
personal injury and an annual aggregate of $1 million.38 However, an official with the
Pennsylvania Department of Environmental Protection's Office of Oil and Gas
Management said the Office does not require or regulate liability insurance.
Texas
Surety bond requirements are established in rules adopted by the Oil and Gas
Division of the Railroad Commission. A surety may be provided through a surety bond,
a cash deposit, or a letter of credit. This may be done individually, at $2 per foot of total
35
N.D. Admin. Code § 43-05-01-09.1.
36
Okla. Stat. tit. 52, § 318.1 (2014); Okla. Admin. Code §§ 165:10-1-12 and 165:10-1-10.
37 25 Pa. Cons. Stat. §§ 78.303 and 287.331 and 58 Pa. Cons. Stat. § 3225 (2015).
38
25 Pa. Cons. Stat. § 287.372.
30. -26-
well depth for each well operated, or it may be done through blanket bonds for which
the base amount for operators of ten or fewer wells is $25,000; the amount for operators
of 11 to 100 wells is $50,000; and the amount for 100 or more wells is $250,000.
Operators of water-based wells are required to supplement these amounts with
additional security. Bay- or lake-based wells must provide an additional $60,000.
Offshore wells are required to provide a bond in an amount of not less than $100,000.39
Liability insurance is not required for operators.
West Virginia
West Virginia requires a $5,000 bond per well or a $50,000 blanket bond for
multiple wells.40 West Virginia does not require producers to carry liability insurance.
Multistate tax comparisons
The taxation of the oil and gas industry varies in each state. As with the
regulatory comparisons discussed above, the informal working group has chosen to
examine taxes that the oil and gas industry may be subject to in Ohio, Arkansas,
Colorado, Louisiana, North Dakota, Oklahoma, Pennsylvania, Texas, and West
Virginia, arranged according to each type of tax. The types of taxes compared include
oil and gas severance taxes, property taxes, corporate income and excise taxes, income
taxes, and sales and use taxes.
The working group recognizes to some extent the difficulty of comparing
multiple states' tax systems, especially severance taxes. As Tom Stewart, the former
Executive President of OOGA, recently observed: "It's very difficult to compare
severance rates among the various oil and gas producing states because every state
does it somewhat differently all of them because of different reasons based on industry
characteristics, geology, economics, the whole thing. So to try and compare us to Texas
is like trying to compare the moon to the sun."41
Oil and gas severance tax
Of the nine comparison states, every state except Pennsylvania levies a specific
tax on oil and gas production. These taxes are often referred to as severance taxes or
production taxes. Each state's oil and gas severance taxes are discussed below, as well
39
16 Tex. Admin. Code § 3.78.
40
W. Va. Code § 22-6-6.
41
Jim Letizia & Ohio Public Radio, "Two Plans to Tax Oil and Gas Drillers" (March 28, 2014),
http://wcbe.org/post/two-plans-tax-oil-and-gas-drillers#stream/0.
31. -27-
as exemptions or incentives relevant or applicable to horizontally drilled oil and gas
wells, with particular focus on incentives given during the initial period that an oil or
gas well begins operations, often referred to as "cost recovery."
Ohio
See "Ohio's oil and gas severance tax," above.
Arkansas
Rates and bases
In Arkansas, the basic statutory rate for the severance of oil equals 5% of the
market value of the oil at the point of severance.42
However, the owner of a well that
produces fewer than ten barrels of oil per day pays a reduced 4% rate on oil from that
well.43
Separate levies totaling 2.05¢ per barrel of oil are levied for the benefit of the
Arkansas Museum of Natural Resources.44
Cost recovery and other incentives
For gas, the basis statutory rate is 5% of the market value, but reduced rates are
available on new discovery (1.5%), high-cost (1.5%), and marginal gas (1.25%).45
New
discovery gas is gas produced from conventional gas wells (e.g., nonhorizontal wells).
High-cost gas is gas that is costly to extract and includes all gas extracted from shale
formations employing horizontal drilling techniques. Marginal gas is gas produced
from a well that is no longer capable of producing in excess of 250 Mcf of gas per day
for conventional wells and 100 Mcf per day for horizontal wells.46
The reduced "new
discovery" rate applies only for the first 24 months of a well's operation. The reduced
"high-cost" rate applies only for the first 36 months of a well's operation, but the rate
may be extended if the "payout" date has not been achieved for up to 12 additional
months.47
The payout date is the date on which a well owner recovers the owner's
drilling costs and, up to the payout date, well operating costs.48
42
Ark. Code § 26-58-111(6)(A).
43
Ark. Code § 26-58-111(6)(A).
44
Ark. Code § 26-58-301 and § 26-58-302.
45
Ark. Code § 26-58-111(5).
46
Ark. Code § 26-58-101.
47 Ark. Code § 26-58-127.
48
Ark. Code § 26-58-101.
32. -28-
Arkansas authorizes gas producers to deduct costs incurred dehydrating,
treating, compressing, and delivering natural gas.49
Additionally, an oil or gas well that
disposes of salt brine produced in the production of the oil or gas by means of an
approved underground saltwater disposal system is allowed a severance tax credit
equal to the operator's costs in maintaining the underground disposal system, up to
$370,000.50
Colorado
Rates and bases
Colorado levies a severance tax on the basis of gross income attributable to the
sale of oil and gas. The applicable rate depends on the producer's annual gross income
and ranges from 2% (annual gross income under $25,000) to 5% (annual gross income of
$300,000 and over).51
Colorado levies an additional charge on the market value of oil and gas
produced at the wellhead to fund the enforcement of Colorado's oil and gas law. The
rate of the charge is set by the commission that administers those laws, but it may not
exceed 1.7 mills.52 Currently, the charge equals 0.7 mills.53
Incentives
The state authorizes a credit against the severance tax equal to 87.5% of ad
valorem tax, i.e., property tax, assessed or paid by leasehold and royalty interests.54
Louisiana
Rates and bases
Louisiana levies a severance tax on oil, condensate, and gas. The rate on oil and
condensate equals 12.5% of "gross value." Gross value is the greater of (1) the gross
49
Ark. Code § 26-58-101(10).
50
Ark. Code §§ 26-58-204, 26-58-205, and 26-58-208.
51
Colo. Rev. Stat. § 39-29-105(1).
52
Colo. Rev. Stat. § 34-60-122.
53 Colo. Code Regs. § 2.404-1(310).
54
Colo. Rev. Stat. § 39-29-105(2).
33. -29-
receipts received from the first purchaser, less charges for trucking, barging, and
pipeline fees, and (2) the posted field price.55
The state's natural gas severance tax is levied at a rate of 15.8¢ per Mcf of gas,
which results from applying a gas price index adjustment to a base minimum rate of
7¢.56 This rate also applies to natural gas liquids.57
Cost recovery
Production of oil or natural gas from a horizontal well is exempt from the tax for
the earlier of the first two years of the well's production or the date that "payout" of the
well is achieved, i.e., the date a sufficient quantity of oil or natural gas, based on market
prices, is obtained to recover the producer's costs of drilling the well. The exemption is
reduced and eventually eliminated if the price of oil or natural gas increases to certain
thresholds.58
North Dakota
Rates and bases
North Dakota levies two types of severance taxes – a gross production tax on oil
and gas and an extraction tax on oil. The gross production tax on oil equals 5% of the
gross value of the oil at the wellhead, i.e., the price paid for oil under an arm's-length
contract less transportation costs associated with moving the oil from the point of
production to the point of sale.59 The gross production on gas equals 11.06¢ per Mcf of
gas, which reflects an annual adjustment using the producer price index starting from a
base rate of 4¢.60
The oil extraction tax is currently 6.5% of the gross value of oil at the wellhead.
But if the price of oil dips below a trigger price, currently $52.59 per barrel, a 4%
55
La. Rev. Stat. § 47:633(7) and (8).
56
La. Dep't of Revenue, http://revenue.louisiana.gov/SeveranceTaxes/Gas (last visited September 15,
2015).
57
La. Rev. Stat. § 47:633(8) and (9)(d).
58
La. Rev. Stat. § 47:633 (7)(d).
59
N.D. Cent. Code §§ 57-51-02 and 57-51-02.3.
60
N.D. Cent. Code § 57-51-02.2; Notification of Gas Tax Rate for Fiscal Year 2016, Office of State Tax
Commissioner (July 1, 2015), available at https://www.nd.gov/tax/oilgas/pubs/
gasrate.pdf?20150915124117.
34. -30-
reduced rate applies.61
Until July 1, 2015, if the oil price exceeded the trigger price, the
first 75,000 barrels or first $4.5 million of gross value of oil from a horizontal well was
subject to a reduced 2% rate.
Beginning in 2016, the oil extraction tax rate becomes 5% of the gross value of oil,
unless the price of oil exceeds $90 per barrel plus an inflation factor, in which case the
rate will increase to 6%.62
Oklahoma
Rates and bases
Oklahoma levies a gross production tax on oil and gas. For wells producing on or
after July 1, 2015, Oklahoma imposes a 2% rate on the gross value of severed oil and gas
for the first three years of a well's production, with a 7% rate applying thereafter.63
Gross value is "the gross proceeds realized from the first sale of [oil and gas] . . . without
any deduction for costs whatsoever."64 If the sale price of the oil or gas does not reflect
the prevailing price for similar gas or oil, the Oklahoma Tax Commission may require
the producer to pay the tax on the basis of the prevailing price of oil or gas from the
same field. If the sale is between related entities and not done at arm's length, then gross
value equals the prevailing price of oil and gas produced in the county, as calculated by
the Commission.65
Oklahoma allows gas producers to deduct their marketing costs
associated with moving the gas from a well to market from the gross production tax
base.66
In addition to its gross production tax, Oklahoma levies a petroleum excise tax
equal to 0.095% of the gross value of severed natural gas and oil. The rate is scheduled
to decrease to 0.085% beginning July 1, 2016.67
61
N.C. Cent. Code §§ 57-51.1-01 and 57-51.1-02; Notification of Oil Trigger Price Adjustment for Calendar Year
2015, Office of State Tax Commissioner (December 18, 2014), available at
https://www.nd.gov/tax/oilgas/pubs/trigger.pdf?20150915125859.
62
N.D. Cent. Code § 57-51.1-02 (effective January 1, 2016).
63
Okla. Stat. tit. 68, § 1001(B).
64
Okla. Admin. Code § 710:45-1-2.
65
Okla. Stat. tit. 68, § 1009(F).
66 Okla. Stat. tit. 68, § 1001.4.
67
Okla. Stat. tit. 68, §§ 1101 and 1102.
35. -31-
Cost recovery
As mentioned above, for wells producing on or after July 1, 2015, Oklahoma
imposes a 2% rate on the gross value of severed oil and gas for the first three years of a
well's production. 68
Texas
Rates and bases
Texas levies a severance tax on oil and condensate ("oil production tax") equal to
the greater of 4.6% of the market value of oil or condensate or 4.6¢ for each barrel of oil
or condensate produced.69
In addition, the state imposes a regulatory oilfield clean-up
fee of 0.675¢ per barrel of oil produced.70
Texas's severance tax on gas and all liquid hydrocarbons that are not condensate
("gas production tax") equals 7.5% of the market value of gas or liquids produced.71
The
market value of gas is reduced by costs incurred by the producer to compress,
dehydrate, sweeten, or deliver the gas.72 An oilfield clean-up fee of 1/15 of 1¢ per Mcf of
gas produced is also imposed.73
Cost recovery
For the gas production tax, Texas offers a temporary rate reduction for wells
extracting gas designated by the Texas Railroad Commission or the Federal Energy
Regulatory Commission as a high-cost gas, which currently includes gas produced from
shale formations.74
The reduction is calculated by subtracting from the 7.5% rate the
product of that rate times the ratio of drilling and completion costs incurred for the well
to twice the median drilling and completion costs for high-cost wells completed during
the preceding fiscal year, but the rate may not be reduced below zero. The reduced rate
applies for the lesser of ten years beginning on the first day of production, or until the
68
Okla. Stat. tit. 68, § 1001(B).
69
Tex. Tax Code §§ 201.055 and 202.052 (2015).
70
Tex. Nat. Res. Code § 81.116.
71
Tex. Tax Code §§ 201.052 and 201.054.
72
Tex. Tax Code § 201.101.
73
Tex. Nat. Res. Code § 81.117. The Texas Railroad Commission is required to suspend clean-up fees if a
certain amount accrues in the fund to which the taxes are credited. Tex. Nat. Res. Code. § 81.067.
74
16 Texas Admin. Code § 3.101.
36. -32-
cumulative value of the tax reduction equals 50% of the drilling and completion costs
incurred for the well.75
West Virginia
Rates and bases
West Virginia levies a severance tax on oil and natural gas at a rate of 5% of the
gross value of the natural gas or oil.76
The gross value of natural gas and oil equals the
product's local market value, with deduction for processing costs necessary to obtain
commercially marketable or usable oil or gas.77 West Virginia levies an additional tax on
natural gas in the amount of 47¢ per Mcf for the purpose of reducing the state's
Workers' Compensation debt.78
Incentives
West Virginia provides an annual credit of $500 for each severance taxpayer.79
The state also exempts natural gas and oil extracted from low-producing wells.80
Pennsylvania county impact fee
While Pennsylvania does not levy a severance tax, the state does authorize
counties to impose a mandatory "impact fee" for hydraulic fracturing gas wells. This fee
is based on the current price of natural gas and decreases gradually over 15 years. The
fee is $60,000 if the price of gas exceeds $5.99 per Mcf, $55,000 if the price is between
$4.99 and $6.99, $50,000 if the price is between $2.99 and $4.99, $45,000 if the price is
between $2.26 and $2.99, and $40,000 if the price is less than $2.26.81
Property taxes
Four of the nine comparison states – Arkansas, Colorado, Texas, and West
Virginia – authorize local governments to levy property taxes against tangible
personal property (TPP) or real property, including oil and gas reserves. However,
75
Tex. Tax Code § 201.057.
76
W. Va. Code § 11-13A-3a.
77
W. Va. Code § 11-13A-2(c)(6).
78
W. Va. Code § 11-13V-4.
79
W. Va. Code § 11-13A-10.
80 W. Va. Code § 11-13A-3a.
81
58 Pa. Cons. Stat. § 2302.
37. -33-
three states – North Dakota, Oklahoma, and Pennsylvania – do not authorize the levy
of property tax against either oil and gas reserves or TPP. Ohio authorizes the levy of
property tax against oil and gas reserves, but not general business TPP. Louisiana
allows local property taxes to be levied against oil and gas TPP, but not against
mineral rights. Each state's property tax system, as related to oil and gas reserves and
TPP, is described below.
Ohio
Mineral rights or reserves
Ohio assesses real property tax against oil and gas reserves through application
of a form of net income capitalization valuation. Generally, the gross value of
production is computed on the basis of the five-year average price of oil or gas from
Ohio wells, and this gross production value is discounted over a ten-year period to
determine the net present value of oil or gas.82 Production volume is adjusted to account
for early "flush" production and production forced by using various secondary recovery
methods, and an annual rate of decline in production is stipulated. Gross value is
adjusted by netting out royalty expenses, capital recovery expenses, and operating
expenses. Oil and gas producers in Ohio who own active and producing wells pay
property tax based on the value of oil and gas mineral reserves as determined by the
valuation formula.83
Tangible personal property
Ohio does not authorize the levy of property tax on general business TPP.
Arkansas
Mineral rights or reserves
Arkansas assesses property tax on the taxable value of producing oil and gas
reserves, and assessors are required to separately assess severed mineral rights.84
Producing oil and gas reserves are valued under formulas that account for the price of
the extracted oil and gas. Inactive reserves are not assessed.85
82
"Discounting" is a method of finding present value of a sum receivable at some future date.
83
R.C. 5713.051.
84
Ark. Code § 26-26-1110.
85
Arkansas Assessment Coordination Department, Standard for Assessing Mineral Rights (February 22,
2013), available at http://www.arkansas.gov/acd/pdfs/Minerals_Standards_2013.pdf.
38. -34-
Tangible personal property
In addition, local governments in Arkansas may assess property tax on most
forms of TPP, including oil and gas exploration and production equipment.86
Colorado
Mineral rights or reserves
Colorado assesses property tax on producing oil and gas reserves. Those reserves
are valued at 87.5% of the cumulative receipts for oil and gas sold from the well during
the tax year. A reduced assessment rate of 75% is available for oil and gas exploited
through certain conservation methods.87
As discussed previously, real property taxes on
oil and gas reserves may be credited to some extent against Colorado's severance tax.88
Nonproducing oil and gas interests are valued at 29% of market-rate rental value.89
Tangible personal property
Colorado assesses TPP tax on machinery, equipment, and buildings at 29% of the
TPP's value.90
Louisiana
Mineral rights or reserves
Oil and gas rights are exempted from property tax under a Louisiana
constitutional amendment.91
Tangible personal property
Louisiana levies property tax on commercial TPP, including oil and gas wells
and equipment, which is assessed on 15% of its fair market value, i.e., cost with
depreciation allowances.92
86
Id.; Ark. Code § 26-3-201.
87
Colo. Rev. Stat. § 39-7-102(1).
88
Colo. Rev. Stat. § 39-29-105(2).
89
Colo. Rev. Stat. §§ 39-1-104(4) and 39-7-109.
90
Colo. Rev. Stat. § 39-1-104.
91 La. Const. Art. VII, § 4.
92
La. Rev. Stat. § 47:2323; La. Admin. Code tit. 61, §§ V.101, V.111, and V. 907.
39. -35-
North Dakota
Mineral rights or reserves
North Dakota exempts from property tax oil and gas reserves, the oil and gas are
subject to the state's severance taxes.93
Tangible personal property
North Dakota does not assess property tax on business TPP.
Oklahoma
Mineral rights or reserves; tangible personal property
Oklahoma does not levy real or personal property taxes on oil and gas reserves –
instead the state levies severances taxes on oil and gas produced from those reserves.94
Pennsylvania
Mineral rights or reserves
In 2002, oil and gas reserves in Pennsylvania became exempt from real property
taxes after the Pennsylvania Supreme Court held that the state's definition of real
property for tax purposes did not include mineral rights.95 Additionally, Pennsylvania
does not consider mining machinery and equipment to be real estate subject to
taxation.96
Tangible personal property
Pennsylvania does not authorize taxes to be levied on business TPP.
Texas
Mineral rights or reserves
In Texas, mineral reserves are generally subject to property taxation at their fair
market value. The market value of oil and gas is determined by use of generally
accepted appraisal techniques, though each property is appraised upon the individual
93
N.D. Cent. Code § 57-02-08.
94
68 Okla. Stat. § 2805(5).
95
Independent Oil & Gas Association v. Board of Assessment Appeals of Fayette County, 572 Pa. 240, 814 A.2d
180 (2002).
96
72 Pa. Stat. § 5020-201 (2015).
40. -36-
characteristics affecting the property's market value.97
If oil and gas reserves are
appraised using a method that takes into account the future income from the sale of oil
or gas to be produced from the reserves, the method must use the average price of the
oil or gas for the preceding year multiplied by a factor reflecting the projected price at
which the oil or gas may be sold in the appraisal year.98 Mineral interests valued at less
than $500 are exempt from property tax.99
Interests in oil and gas reserves that are not currently being produced are
appraised at the price the interest would sell for while not under production.100
Tangible personal property
Property taxes in Texas are assessed against TPP used or held for the production
of income.101
TPP valued at less than $500 is exempt from property tax.102
West Virginia
Mineral rights or reserves
West Virginia assesses tax on oil and gas reserves, which are valued for tax
purposes at 60% of fair market value.103 That value is calculated through application of a
net income capitalization formula similar to the formula used in Ohio. The tax is
determined on the basis of a well's gross receipts less royalty and operating expenses.104
Tangible personal property
West Virginia assesses property tax on TPP, including industrial fixtures,
machinery, and equipment.105
97
Tex. Tax Code §§ 1.04, 11.01, and 23.01.
98
Tex. Tax Code § 23.175.
99
Tex. Tax Code § 11.146.
100
Tex. Tax Code § 23.17.
101
Tex. Tax Code §§ 11.01 and 11.14.
102
Tex. Tax Code § 11.146.
103
W. Va. Code §§ 11-1C-10 and 11-3-1.
104 W. Va. Code R. § 110-1J-4 (2015).
105
W. Va. Code § 11-1A-11.
41. -37-
Sales and use tax
Ohio and all of the eight comparison states levy a tax on the sale of TPP and
certain services (sales tax) and an accompanying tax at the same rate on the use of TPP
and services purchased outside the state by a resident of the state (use tax). Each of the
states also allows local sales and use taxes in addition to the state rate. These taxes,
absent specific exemption, would apply to the TPP and service purchases of oil and gas
producers.
The table below summarizes the sales and use tax rates of the comparison states.
Unless otherwise noted, the data were compiled by the Federation of Tax
Administrators in 2014.106
Local taxes are expressed in terms of the local rate levied in
the largest city in the state. Rates vary in each state depending on the location of the sale
or residence of the consumer. In each state, the sales and use tax rate levied in the
largest city is the highest rate levied in the state.107 The paragraphs following the table
summarize certain exemptions that may apply to oil and gas producers.
State State Rate (%)
Local Rate in
Largest City (%)
Total Rate in
Largest City (%)
Ohio 5.75
108
2.25
109
8.00
110
Arkansas 6.50 5.50 12.00
Colorado 2.90 7.10 10.00
Louisiana 4.00 7.00 11.00
North Dakota 5.00 3.00 8.00
Oklahoma 4.50 6.50 11.00
Pennsylvania 6.00 2.00 8.00
Texas 6.25
111
2.00 8.25
West Virginia 6.00 1.00 7.00
106
"Comparison of State/Local Retail Sales Taxes" (2014), available at
http://dor.wa.gov/docs/reports/2014/Compare14/Table15.pdf.
107
See Scott Drenkard and Jared Walczak, State and Local Sales Tax Rates in 2015, Tax Foundation,
available at http://taxfoundation.org/article/state-and-local-sales-tax-rates-2015#_ftn8.
108
R.C. 5739.02 and 5741.02.
109
The highest local rate possible in Ohio is 3.0%. R.C. 5739.021, 5739.023, 5739.026, 5741.021, 5741.022,
and 5741.023.
110 The highest total sales and use tax rate actually levied is 8.00% in Cuyahoga County.
111
Tex. Tax Code §§ 151.051 and 151.101.
42. -38-
Ohio
In Ohio, sales of TPP and taxable services are exempted when the thing
transferred is used to produce TPP for sale by "mining, including, without limitation,
the extraction from the earth of all substances that are classed geologically as minerals,
production of crude oil and natural gas . . . ."112
Colorado
Colorado exempts from sales and use tax purchases of machinery or machine
tools to be used exclusively in an enterprise zone for manufacturing TPP.
Manufacturing includes "refining, blasting, exploring, mining and mined land
reclamation, quarry for, processing and beneficiation, or otherwise extracting from the
earth or from waste or stockpiles or from pits or banks any natural resource."113
North Dakota
North Dakota exempts from sales and use tax sales of property used to compress,
process, gather, collect, or refine gas or to expand or build a gas producing facility.114
Pennsylvania
Under Pennsylvania law, the transfer of TPP and services used in the
manufacture of tangible personal property, including refining, blasting, exploring,
mining and quarrying for, or otherwise extracting natural resources, is exempt from
sales and use tax.115
Texas
Texas provides three exemptions that may be applicable to a particular oil and
gas producer. First, the transfer of certain materials and equipment used for off-shore,
out-of-state mining, exploration, and production of oil, gas, sulfur, and other minerals is
exempt from sales and use tax.116
Also exempt from sales and use tax is the transfer of
gas and electricity used directly in exploring for, producing, or transporting any
material extracted from the earth. Finally, the sale of TPP used to process, reuse, or
recycle wastewater to be used in fracturing work within an oil and gas well is exempt
112
R.C. 5739.02(B)(42)(a).
113
Colo. Rev. Stat. § 39-30-106.
114
N.D. Cent. Code §§ 57-39.2-04.5 and 57-39.2-10.
115 72 Pa. Stat. § 7201.
116
Tex. Tax Code § 151.324.
43. -39-
from sales and use tax.117
Only the first of these three exemptions is restricted to
off-shore, out-of-state ventures.
West Virginia
West Virginia generally exempts from sales and use tax sales of TPP and services
"directly used or consumed in the activities of manufacturing, transportation,
transmission, communication, production of natural resources, gas storage, generation
or production or selling electric power, provision of a public utility service or the
operation of a utility service or the operation of a utility business . . . ." Persons claiming
such an exemption must pay the tax initially, then later apply to the Tax Commissioner
for a refund or credit. The exemption does not apply to the purchase of gasoline or
special fuel.118
Business taxes
Arkansas, Colorado, Louisiana, North Dakota, Oklahoma, Pennsylvania, and
West Virginia impose business income taxes similar to the federal corporate income tax.
Texas imposes a "margins tax" based either on revenue or gross receipts after certain
deductions. Ohio imposes a CAT based on a business's gross receipts.
The table below contains the tax rates, income brackets, and tax base applicable
in each of the comparison states. Unless otherwise noted, the data were compiled by the
Federation of Tax Administrators in 2015.119
The paragraphs following the table
summarize characteristics of the taxes affecting oil and gas producers.
117
Tex. Tax Code § 151.317.
118
W. Va. Code § 11-15-9.
119
Range of State Corporate Income Tax Rates (2015), available at
http://www.taxadmin.org/fta/rate/corp_inc.pdf.
44. -40-
State Tax Rate(s) (%)
Income Brackets
(Lowest-Highest)
Tax Base
(as allocated to the state)
Ohio
120
0.26 on gross
receipts over
$1 million
Annual minimum tax
(ranging from $150-$2,600)
applies to first $1 million in
gross receipts
Gross receipts – the total amount
realized by a person without
deduction for cost of goods or
expenses
Arkansas 1.0-6.5 $3,000-$100,001 Gains, profits, and income derived
from any source
121
Colorado 4.63 Flat rate Federal taxable income
122
Louisiana 4.0-8.0 $25,000-$200,001 Federal gross income, adjusted
(FAGI)
123
North Dakota 1.48-4.53 $25,000-$50,001 Federal taxable income
124
Oklahoma 6.0 Flat rate FAGI
125
Pennsylvania 9.99 Flat rate Federal taxable income
126
Texas 0.5 (retail)
1.0 (other)
Applies only if total revenue
exceeds $1.03 million
Based on 70% of total revenue or
100% of gross receipts after
deductions for either
compensation or goods sold
West Virginia 6.5 Flat rate FAGI
127
Ohio
Under the CAT, receipts from the sale or other disposition are exempted because
Ohio levies a petroleum activity tax (PAT) on suppliers of motor fuel, which is
measured by the supplier's gross receipts from the first sale of motor fuel, including
propane, in Ohio to a point outside the distribution system. The rate of the PAT is
0.65%.128
120
R.C. Chapter 5751.
121
Ark. Code § 26-51-404.
122
Colo. Rev. Stat. §§ 39-22-301 and 304.
123
La. Rev. Stat. § 47:287.61.
124
N.D. Cent. Code § 57-38-01.3.
125
Okla. Stat. tit. 68, §§ 2353 and 2355.
126
72 Pa. Stat. § 7401.
127 W. Va. Code § 11-24-3.
128
R.C. Chapter 5736.
45. -41-
Colorado
Colorado authorizes a depletion deduction equal to the greater of the federal
depletion amount or what the federal depletion amount would be if the depletion rate
were 27.5% and "crushing, retorting, condensing, and other processes by which oil, gas,
or both oil and gas are removed from oil shale" were deemed to be treatment processes
considered as mining.129
Louisiana
Louisiana allows a depletion deduction for oil and gas production and
exploration activities. The deduction is the greater of the federal depletion amount or
22% of gross income (excluding rents or royalties paid or incurred) from an oil and gas
well. The deduction may not exceed 50% of the taxpayer's net income. H.B. 624 (signed
by the governor on June 19, 2015) temporarily reduces the deduction to 15.8% of gross
income (excluding 72% of any rents or royalties paid or incurred) from the oil and gas
well, not to exceed 36% of the taxpayer's net income.130
Louisiana also allows a deduction for "intangible drilling and development
costs," which may include drilling development work done by contractors, costs of
labor, fuel, repairs, and construction. Generally, the deduction applies to expenditures
having no salvage value.131
Oklahoma
Oklahoma allows, as an alternative to the federal depletion deduction, a
depletion deduction equal to 22% of the gross income derived from the properties
during the taxable year. The depletion deduction for "major oil companies" may not
exceed 50% of the company's net income.132
Pennsylvania
In Pennsylvania, income of pipeline and natural gas companies is subject to
special apportionment rules.133
129
Colo. Rev. Stat. § 39-22-304(3)(h).
130
La. Rev. Stat. §§ 47:66 and 158.
131
La. Rev. Stat. § 47:67.
132 Okla. Stat. tit. 68, § 2353(10).
133
72 Pa. Stat. § 7401.
46. -42-
Personal income tax
Of the nine comparison states, all but Texas levy a tax on individuals living or
earning income within the state. Such taxes generally include individuals' distributive
shares from pass-through entities such as partnerships and S corporations. These taxes
would presumably impact at least some oil and gas producers and their employees.
The table below compares personal income tax rates, brackets, and tax bases of
the comparison states. Unless otherwise noted, the data were compiled by the
Federation of Tax Administrators in 2015.134
The paragraphs following the table
summarize characteristics of the taxes affecting oil and gas producers.
State
Tax Rate(s)
(%)
Income Brackets
(Lowest – Highest)
Tax Base
Ohio 0.495-4.997 $5,000-$200,000 FAGI
135
Arkansas 0.9-6.9 $4,299-$35,100 Gains, profits, and income
derived from any source
136
Colorado 4.63 Flat rate Federal taxable income
137
Louisiana 2.0-6.0 $12,500-$50,001 FAGI
138
North Dakota 1.22-3.22 $37,450-$411,500 Federal taxable income
139
Oklahoma 0.5-5.25 $1,000-$8,701 FAGI
140
Pennsylvania 3.07 Flat rate Compensation, net profits, net
gains, dividends, interest,
gambling winnings, and other
specified types of income
141
Texas No state tax
West Virginia 3.0-6.5 $10,000-$60,000 FAGI
142
134
"State Individual Income Tax Rates" (2014), available at http://www.taxadmin.org/fta/rate/ind_inc.pdf.
135
R.C. 5747.01.
136
Ark. Code § 26-51-404.
137
Colo. Rev. Stat. § 39-22-104.
138
La. Rev. Stat. §§ 47:293 and 47:295.
139
N.D. Cent. Code § 57-38-01.
140
Okla. Stat. tit. 68, §§ 2353 and 2355.
141 72 Pa. Stat. § 7303.
142
W. Va. Code § 11-21-9.
47. -43-
Ohio
Ohio's income tax rates have been gradually falling since 2005, when the 126th
General Assembly enacted H.B. 66, scheduling five annual across-the-board income tax
rate reductions of 4.2% each. Accordingly, for 2008 taxable years, income tax rates were
16.8% lower than they had been for 2004, the year before H.B. 66 was enacted.
In 2009, H.B. 318 of the 128th General Assembly temporarily postponed the fifth
and final income tax rate reduction for two years. As a result, the fifth and final rate
reduction became effective for 2011 taxable years. Starting in 2010, the Tax
Commissioner was required to adjust each income tax bracket annually for inflation.
In 2013, the General Assembly enacted H.B. 59, which provided for rate
reductions of 8.5% for the 2013 taxable year, 9% for the 2014 taxable year, and 10% for
the 2015 taxable year and thereafter (all percentages compared to the 2012 rates). It also
introduced a new deduction for one-half of a taxpayer's business income, up to
$125,000. Then, in 2014, the General Assembly accelerated the third and final H.B. 59
reduction, such that the full 10% reduction applied to the 2014 taxable year, and
increased the business income deduction to 75% for 2014.
In 2015, the General Assembly again enhanced the business income deduction
and established a 3% rate on all or some of that income above the deduction threshold.
H.B. 64 maintained the existing nine-tiered tax brackets for nonbusiness income, while
reducing the tax rates for those brackets by 6.3% for 2015 and thereafter.143
Colorado
The Colorado depletion deduction previously described also applies to personal
income tax (see "Business taxes," above).
Louisiana
The Louisiana depletion deduction previously described also applies to personal
income tax (see "Business taxes," above). Persons actually engaged in severing oil,
gas, and other natural resources are required to withhold income tax on royalty
payments to shareholders.144
143 R.C. 5747.01(A)(31) and 5747.02.
144
La. Rev. Stat. § 47:636.
48. -44-
North Dakota
North Dakota requires remitters of oil and gas royalty payments to withhold
income tax at the highest marginal rate on all oil and gas royalty payments to
nonresident individuals and businesses domiciled outside the state. Certain "small
producing remitters" producing less than 350,000 barrels of oil or less than 500 million
cubic feet of gas during the previous year are exempted from the withholding
requirement.145
Oklahoma
The Oklahoma depletion deduction previously described also applies to personal
income tax (see "Business taxes," above). Remitters of oil and gas royalty payments
are required to deduct and withhold 5% of the royalty payment for income tax
purposes.146
Multistate workers' compensation comparisons
Background
Generally, three types of workers' compensation systems exist in the United
States: (1) a completely private system, where a state does not offer coverage at all, (2) a
"hybrid" system, where a state fund exists and either competes with private insurers or
acts as a fund of last resort, and (3) a state monopolistic system, where employers may
obtain coverage through only the state fund (Ohio is the last type). In all three types of
systems, an employer may be able to pay claims directly, which is referred to as
self-insurance. Note that in Texas, workers' compensation coverage is generally
voluntary.
To determine the rate of premium to be charged to a particular employer, each
state divides employment in the state by classification and assigns a code and rate to
each classification. Many states use classifications and rate-making services provided by
the National Council of Compensation Insurance (NCCI).
The Oregon study
Every two years, in the Oregon Workers' Compensation Premium Rate Ranking
study, Oregon's Department of Consumer and Business Services creates an index
workers' compensation premium rate for each state for comparison purposes. For the
most recent study (2014), to arrive at an index rate for each state, the Department first
145 N.D. Cent. Code § 57-38-59.4.
146
Okla. Stat. tit. 68, § 2385.26.
49. -45-
selected, of 450 NCCI classification codes used in Oregon, the 50 risk classifications that
represent the largest share of losses in Oregon.147
The study uses the average manual
rates in each state for those classifications, and weighs those rates based on 2008-2010
Oregon payrolls. Manual rates are based on loss experienced in a particular industry
and may vary significantly from the rates actually charged depending on the individual
employer's loss experience and costs assessed by a particular state or workers'
compensation insurance provider. The states are then ranked, the state with the most
expensive index rate being first, and the state with the least expensive index rate being
51st.148
The Oregon study ranks the selected states as follows:
State 2014 Ranking Index Rate
Ohio 33 $1.74
Arkansas 49 $1.08
Colorado 41 $1.50
Louisiana 10 $2.23
North Dakota 51 $0.88
Oklahoma 6 $2.55
Pennsylvania 17 $2.00
Texas 36 $1.61
West Virginia 43 $1.37
But the study cautions against using the results to compare states and includes
several issues that users of the report should consider. Below are some of the issues that
may affect Ohio's ranking in the Oregon study:
Because not all premium classes were included in the study, the average
premium in each state will differ from the index rate provided in the
study, which is weighted based on Oregon's economy;
Many states have unique classes within the NCCI system or do not have
rates for all of the classes;
The manual rate data used in the study does not take into account
adjustments based on experience rating, premium discounts, premium
reductions, and other modifications to premium rates;
147
The full 2014 report is available at http://www4.cbs.state.or.us/ex/imd/external/reports/
index.cfm?fuseaction=dir&ItemID=1998 (follow link for 2014 Workers' Compensation Premium Rate
Ranking Report).
148
The study includes rates for all 50 states and Washington, D.C.
50. -46-
The payroll basis may differ from state to state (for example, in North
Dakota, workers' compensation premiums are based on the first $35,600 of
an employee's payroll);
The data excludes the experience of self-insuring employers;
As discussed above, states vary in the manner in which employers may
obtain workers' compensation coverage.
For additional issues regarding the study, see pages 10 to 12 of the study. With
respect to the last point listed above, four states, Ohio, North Dakota, Washington, and
Wyoming, operate monopolistic state workers' compensation insurance funds. Because
of that status, those states are not included in discussions of certain premium
calculations in the study, such as the net five-year voluntary premium level change
addressed in Figure 6 of the study.149
Oil and gas base rates
In addition to the issues listed above, the Oregon study does not include any
classifications that represent employment in oil and natural gas production. According
to NCCI, the following class codes represent employment in oil and natural gas
production and transportation:150
Oil or gas well – drilling or redrilling and drivers (6235);
Oil or gas well – cementing and drivers (6206);
Oil or gas well – specialty tool and equipment leasing not otherwise
covered (NOC) (6213);
Oil or gas well – instrument logging or survey work and drivers (6237);
Oil or gas lease operator – all operations and drivers (1320);
Oil or gas – lease work NOC – by specialist contractor and drivers (6216);
Oil or gas – pipeline construction and drivers (6233);
149
Oregon Workers' Compensation Premium Rate Ranking, Calendar Year 2014, Oregon Department of
Consumer and Business Services, available at http://dcbs-reports.cbs.state.or.us/rpt/
index.cfm?fuseaction=version_view&version_tk=192975&ProgID=FEARA011.
150
Herk, L., Workers Compensation and the Oil and Gas Industry, NCCI Workers Compensation 2015 Issues
Report, available at https://www.ncci.com/Documents/IR2015-Herk.pdf.
51. -47-
Oil or gas – pipeline operation and drivers (7515);
Tool manufacturing – agricultural, construction, logging, mining, wells
(3126).
The following table provides a comparison of manual rates for those
classifications among Ohio, North Dakota, Pennsylvania, and West Virginia. Each of
these manual rates is based on the loss experience of a single industry within a state.
This differs from the Oregon study, which, as discussed above, examines the loss
experience of 50 selected industries and creates a weighted average based on Oregon's
loss experience in those industries. The manual rates for Arkansas, Colorado,
Oklahoma, Texas, and Louisiana do not appear to be publicly available.
Classification Ohio
151
North Dakota
152
Pennsylvania
153
West Virginia
154
Well drilling or redrilling and drivers
(6235)
$4.80 $8.23 (6203)
155
$19.43 (0606) $13.93
Well cementing and drivers
(6206)
$3.48 $5.61 Not available $4.12
Well specialty tool and equipment
leasing NOC (6213)
$4.19 $3.53 (6204) Not available $2.98
Well instrument logging or survey
work and drivers (6237)
$1.38 $1.86 (6208) Not available $1.72
Well lease operator operations and
driving (1320)
$2.50 $4.70 Not available $3.88
Lease work by specialist
contractors and drivers NOC (6216)
$4.63 $10.07 (6205) Not available $6.55
Pipeline construction and drivers
(6233)
$3.85 $3.97 (6301)
156
Not available $3.97
151 O.A.C. 4123-17-06, Appendix A.
152 2015-2016 Workers' Compensation Rates, North Dakota Workforce Safety and Insurance, available at
https://www.workforcesafety.com/employers/resources.
153
Classification Codes, Classification Rates, Minimum Premium, Pennsylvania Department of Labor and
Industry, available at http://www.portal.state.pa.us/portal/server.pt/community/underwriting/10437/
current_swif_rates/552685 (accessed September 22, 2015).
154
Assigned Risk Plan Rates Effective November 1, 2014, West Virginia Offices of the Insurance
Commissioner, available at http://www.wvinsurance.gov/WorkersCompensation.aspx (accessed
September 16, 2015).
155
Several of these NCCI class codes are not used in North Dakota and none of the NCCI class codes are
used in Pennsylvania. To provide a comparison, similar classification codes were selected as shown in
parentheses. Selections for North Dakota are based on the 2015 Classification Manual published by North
Dakota Workforce Safety and Insurance, available at https://www.workforcesafety.com/
employers/file/2015-classification-manual.