Tax Alerts Archives - Whitley Penn

Tax Update – Energy Industry: Texas and Wyoming Severance Tax Exemption

Tax Update: 8/17/2023 Texas and Wyoming both provide waivers from the severance tax that is otherwise imposed on flared gas consumed on the site of a qualifying well. While the exemptions have been heralded as an incentive for cryptocurrency mining, both states’ exemptions apply broadly to stranded gas of a qualifying well that is consumed

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