What is the severance tax on oil and gas in Louisiana?

The capable tax rate for oil and condensate is 12.5 percent of value and ac- counts for over 85 percent of the oil and condensate tax collections. There is al- so an incapable rate and a stripper rate for low-producing oil wells. The current oil severance tax rates are listed the Oil Severance Tax Rates page.

Are horizontal wells exempt from severance tax in Louisiana?

Wells producing less than 10 barrels per day pay one-quarter the tax rate (stripper wells at 3.125%). Present law allows a 100% severance tax exemption for horizontal oil and gas wells for the shorter of the first 24 months of production or payout.

What is the severance tax on timber in Louisiana?

31, 2023. The sawtimber and chip-n-saw regular severance tax rate is 2 1/4 percent of the sawtimber stumpage value. The pulpwood regular severance tax rate is 5 percent of the stumpage value. Ad valorem taxes paid by landowners are determined by these assessed values multiplied by the millage rates in each parish.

What is the severance tax rate for oil in Louisiana?

The capable tax rate for oil and condensate is 12.5 percent of value and ac- counts for over 85 percent of the oil and condensate tax collections.

What is the severance tax relief program in Louisiana?

The Severance Tax Relief Program (STRP) allows the suspension or reduction of severance taxes due on production from a qualifying well for a variable time period depending on the category. To review the origin and history of the STRP, please follow this link to our Archives page.

What is the severance tax exemption for natural gas in Louisiana?

The exemption shall be 100% if the price of natural gas is at or below $4.50 per million BTU. The exemption shall be 80% if the price of natural gas is above $4.50 per million BTU and at or below $5.50 per million BTU.

What is the severance tax exemption for natural gas in Louisiana?

The exemption shall be 100% if the price of natural gas is at or below $4.50 per million BTU. The exemption shall be 80% if the price of natural gas is above $4.50 per million BTU and at or below $5.50 per million BTU.

What is the severance tax relief program in Louisiana?

The Severance Tax Relief Program (STRP) allows the suspension or reduction of severance taxes due on production from a qualifying well for a variable time period depending on the category. To review the origin and history of the STRP, please follow this link to our Archives page.

Get Louisiana Incapable Wells Form

Ct, and complete. FOR OFFICE USE ONLY. These wells have been approved for incapable status effective: Revenue Account Number Address: street number, city, state, ZIP Telephone Name of applying company Lease and well name Well number Conservation codes Parish code Field Producer Lease Well serial number Measure ment method Reporting Company Number *Method of 1 - Flowing 2 - Gas lift producing code Well head *Prod. **Class Daily avg. code code pressure prod. during cal. month (MCF).

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