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CARN SeveranceTaxReport

CARN SeveranceTaxReport

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Published by: petersoe0 on Jul 20, 2012
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07/20/2012

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Central
 
Appalachia
 
Severance
 
Tax
 
Policy
 
Scan
 
1
 
 
 
Central Appalachia Severance Tax Policy Scan2
 
Table of Contents
3
4
 
 
Central Appalachia Severance Tax Policy Scan3
 
INTRODUCTION
The Central Appalachian region of the United Stateshas an abundance of renewable and non-renewableresources such as coal, natural gas, oil and timber.Much of this rich land however is owned by absenteelandowners, and the wealth generated from theseresources is transferred out of the region.Severance tax is collected on the removal, or“severance”, of renewable and non-renewableresources and provides a way to capture some of thevalue as it is removed from the region. Severancetaxes are an important way for our communities tooffset the effects of extracting or harvesting theresources, and can contribute to creating a morediverse and sustainable Appalachian economy.The
Central Appalachia Severance Tax Policy Scan
isa compilation of severance tax policies and rateinformation for Kentucky, Maryland, Ohio, Tennessee,Virginia and West Virginia and examines:
 
General Severance Tax Information
 
Taxed Natural Resources and Current Rates
 
Disposition of Severance Tax Revenue
 
Uses of Revenue in Specified Funds (whereidentified)The second section of the report (Appendix A) wascrafted by the West Virginia Center on Budget &Policy and supports the creation of PermanentSeverance Tax Trust Funds in Central Appalachianstates. A national comparison of states with existingpermanent severance tax trust funds is providedalong with a compilation of 2012 severance taxlegislation from each of the Central Appalachianstates.
ABOUT CARN
The Central Appalachia Regional Network (CARN) is acoalition of organizations from the Appalachiancounties of Kentucky, Maryland, Ohio, Tennessee,Virginia, and West Virginia. This regional network is afounding member of the nationwide Rural People,Rural Policy Initiative. CARN strives to connect diverseorganizations to promote policy and action toimprove the quality of life available to the people of Central Appalachia.Following recommendations from a multi-sectorregional summit in 2010, CARN established a LocalControl of Assets work group. The group’s purpose isto examine existing policies and develop positionspertaining to resources found in our communities,how they are taxed, and how the revenues aremanaged.The Central Appalachia Severance Tax Policy Scanprovides a foundation on which CARN will developpolicy positions to create a long-term legacy for ourresource-rich communities
ACKNOWLEDGMENTS
Primary research for the Central AppalachiaSeverance Tax Policy Scan was conducted by KimberSimmons and Joseph Houser of Virginia EconomicBridge, Inc. Additional information concerningmonetary adjustments due to inflation was providedby Southeast Kentucky Community & TechnicalCollege student, Chelsea Brock.The research and analysis contained in the 2012Severance Tax Legislation and Best Practices sectionwere provided by Ted Boettner of the West VirginiaCenter for Budget and Policy.Initial funding for the Rural People, Rural Policyinitiative and funding for this report were provided bythe W.K. Kellogg Foundation.
CONTACT INFORMATION
For more information about the severance tax reportor to obtain a copy, please contact:Jenny LancasterNetwork CoordinatorCentral Appalachia Regional NetworkJLancaster@carnnet.orgwww.carnnet.org

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