Gross Production Tax
A state tax imposed on companies that generate revenues by depleting non-renewable resources. Such companies include producers of oil and gas, coal miners and miners of metals and minerals. Gross production taxes are normally introduced as a means of compensating the state for the pollution that miners emit.
Also known as severance tax.
One method of calculating the gross production tax is as a percentage of gross value based on the average monthly product price. This tax is generally deductible from the company's federal tax. Some states may also charge an extraction tax on top of the gross production tax.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
gross production tax — A state tax upon the gross production of certain industries which is substituted for and takes the place of an ad valorem tax imposed under general tax laws; a tax in lieu of all other taxes on the leases and minerals or the equipment used in… … Ballentine's law dictionary
Gross receipts tax — A gross receipts tax, sometimes referred to as a gross excise tax, is a tax on the total gross revenues of a company, regardless of their source. A gross receipts tax is similar to a sales tax, but it is levied on the seller of goods or services… … Wikipedia
production tax — A tax upon the production or severance from the soil of natural resources such as timber, oil, gas, and the like. 51 Am J1st Tax § 1259. See gross production tax … Ballentine's law dictionary
Tax system in China — Taxes provide the most important revenue source for the Government of the People s Republic of China. As the most important source of fiscal revenue, tax is a key economic player of macro economic regulation, and greatly affects China s economic… … Wikipedia
Gross domestic product — GDP redirects here. For other uses, see GDP (disambiguation). Not to be confused with Gross national product or Gross domestic income. CIA World Factbook 2005 figures of total nominal GDP (top) compared to PPP adjusted GDP (bottom) … Wikipedia
Tax — Taxation An aspect of fiscal policy … Wikipedia
Tax Increase Prevention and Reconciliation Act of 2005 — The Tax Increase Prevention and Reconciliation Act of 2005 (or TIPRA, USPL|109|222, USStat|120|345) was enacted on May 17, 2006. This bill prevents several tax provisions from sunseting in the near future. The two most notable pieces of the bill… … Wikipedia
Gross Domestic Income - GDI — The sum of all income earned while producing goods and services within a nation s borders. Gross domestic income (GDI) is a lesser known calculation stat used by the Federal Reserve to gauge economic activity based on income. It differs from… … Investment dictionary
Value added tax — Taxation An aspect of fiscal policy … Wikipedia
Movie production incentives in the United States — Many states provide financial incentives for film and television production. Movie production incentives are offered on a state by state basis throughout the United States to encourage in state film production. These incentives came about in the… … Wikipedia