Oil  Most laws that affect oil production are created at the state level. Likewise, severance taxes are legislated and collected by each individual state. States usually calculate the tax based on the value or volume of the oil produced, though sometimes states use a combination of URL Certain oil wells may be exempt from severance tax based on the amount they produce , the type of well (i.e. horizontal, tertiary, deep, etc) , though this is determined by the individual states .
Oil and Natural Gas Severance taxes are set and collected at the state level. States usually calculate the tax based on the value and/or volume produced; sometimes the method differs for oil, natural gas, and URL Certain oil wells may be exempt from severance tax based on the amount they produce (i.e. "stripper" wells) or the type of well (i.e. horizontal, tertiary, deep, etc) .
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and Natural Gas
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Most laws that affect oil production are created
Severance taxes are set and collected
D
Likewise, severance taxes are legislated and collected by each individual state.
R
or volume of the oil produced, though sometimes states use a combination of
and/or volume produced; sometimes the method differs for oil, natural gas, and
R
,
(i.e. "stripper" wells) or
D
, though this is determined by the individual states