The good folks over at the West Virginia Center for Budget Policy continue their work on coal and natural gas tax policy, with a new report out today called Major Tax Responsibilities of Coal and Natura lGas Producers in Wyoming and West Virginia. It concludes:
— In 2008, Wyoming collected approximately $2.1 billion in taxes from coal and natural gas producers, compared to $787 million in West Virginia.
— Wyoming’s average effective tax rate on coal producers was 10.6 percent, compared to 6.5 percent in West Virginia.
— The average effective tax rate on natural gas producers was 10.2 percent in Wyoming and 8.2 percent in West Virginia.
— The average property tax rate for coal and natural producers in Wyoming was 4.8 percent for each industry, while the average property tax rate for natural gas was three percent and one percent for coal in West Virginia.
— If West Virginia replaced its real and personal property tax scheme with Wyoming’s county gross production tax, it would have raised an additional $115 million in 2008.
Check it out here.