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The West Virginia Future Fund is a permanent trust fund which began operations in March 2014. It was established via the passage of SB 461 and SJR 14 to make the fund constitutionally protected under West Virginia law. Funding comes from a 25% natural gas and oil severance tax.
States usually calculate the tax based on the value and/or volume produced; sometimes the method differs for oil, natural gas, and condensates. [4] [5] Production from certain wells may be exempt from severance tax based on the amount of production (i.e. "stripper" wells) or the type of well (i.e. horizontal, tertiary, deep, etc). [5]
Pages in category "Severance taxes" The following 7 pages are in this category, out of 7 total. ... West Virginia Future Fund This page was last ...
Part of the reason investors fled the stock market in 2022 was over fears of a potential recession in 2023. With inflation reaching multi-decade highs and the Fed aggressively raising interest ...
A congressional report has revealed that the FTC is probing Elon Musk's mass layoffs at Twitter, just one of many across the American workforce over the past several months as companies struggle ...
In addition to the Federal income tax, John probably pays state income tax, Social Security tax, and Medicare tax. The Social Security tax in 2007 for John is 6.2% on the first $97,500 of earned income (wages), or a maximum of $6,045. There are no exclusions from earned income for Social Security so John pays the maximum of $6,045.
Mar. 6—MORGANTOWN — Gov. Jim Justice unveiled his plan to eliminate the state personal income tax Thursday and held another virtual town hall to sell his plan Friday. He opened by saying the ...
The business and occupation tax (often abbreviated as B&O tax or B/O tax) is a type of tax levied by the U.S. states of Washington, West Virginia, and, as of 2010, Ohio, [1] and by municipal governments in West Virginia and Kentucky. [2] It is a type of gross receipts tax because it is levied on gross income, rather than net income.