Munich Personal RePEc Archive

A Quantitative Description of State-Level Taxation of Oil and Gas Production in the Continental U.S.

Weber, Jeremy G. and Wang, Yongsheng and Chomas, Maxwell (2016): A Quantitative Description of State-Level Taxation of Oil and Gas Production in the Continental U.S. Forthcoming in: Energy Policy

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Abstract

We provide a quantitative description of state-level taxation of oil and gas production in the Continental U.S. for 2004 to 2013. Aggregate revenues from production taxes nearly doubled in real terms over the period, reaching $10.3 billion and accounting for 20 percent of tax receipts in the top ten revenue states. The average state had a tax rate of 3.6 percent; nationally, the average dollar of production was taxed at 4.2 percent. The oil-specific rate estimated for the study period is $2.4 per barrel or $5.5 per ton of carbon. Lastly, state-level tax rates are two-thirds higher in states excluding oil and gas wells from local property taxes, suggesting that the policies are substitutes for one another.

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