State lieutenant governor tells TL Editorial Board that jobs and tax revenues are already adding up. BILL O ’ BOYLE boboyle@timesleader.com
WILKES-BARRE – Lt. Gov. Jim Cawley said Wednesday the natural gas industry has been paying its fair share, and a gas severance tax is not the answer to the state’s budget woes.
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Pointing to the state’s existing tax structure, Cawley noted that recent figures released by the Department of Revenue show the oil and gas companies and their affiliates have already paid – through April (first quarter) $238.4 million in capital stock/foreign franchise tax, corporate net income tax, sales/use tax and employer withholding tax to the state.
Cawley said that represents nearly $20 million more than the total revenue collected from the industry in all of 2010. Continue reading “Cawley: Gas industry is paying its share”