severance tax

noun

Definition of severance tax

: a tax levied by a state on the extractor of oil, gas, or minerals intended for consumption in other states — compare royalty sense 5a

Examples of severance tax in a Sentence

Recent Examples on the Web During that time, the amount of severance tax – 10 cents per barrel of oil and 2.5 cents per thousand cubic feet of natural gas – grew nearly every year. Eric Heisig, cleveland, 19 Mar. 2022 Their other major battle has been fighting an increase in a coal severance tax. Kate Aronoff, The New Republic, 4 Jan. 2022 For decades, private timber owners in Oregon paid a severance tax. oregonlive, 2 Mar. 2021 For decades, private timber owners in Oregon paid a severance tax. oregonlive, 2 Mar. 2021 With the state emerging from a significant recession, the position would test the knowledge Duncan had attained over the past decade and bring new challenges as well — such as implementing a severance tax on oil and gas production enacted in 1983. Tax Notes Staff, Forbes, 27 Dec. 2021 For decades, private timber owners in Oregon paid a severance tax. oregonlive, 2 Mar. 2021 Changing the severance tax from 25 cents a barrel to 12.5 percent of value made Louisiana the most cash-rich state in the nation at the time while New York City was going bankrupt, said Honeycutt, his official biographer. NBC News, 12 July 2021 For decades, private timber owners in Oregon paid a severance tax. oregonlive, 2 Mar. 2021 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'severance tax.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of severance tax

1928, in the meaning defined above

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Time Traveler for severance tax

Time Traveler

The first known use of severance tax was in 1928

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Dictionary Entries Near severance tax

severance pay

severance tax

severation

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Statistics for severance tax

Cite this Entry

“Severance tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/severance%20tax. Accessed 8 Aug. 2022.

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