(The Center Square) – The Texas oil and natural gas industry broke records all around in fiscal 2023. It smashed all previous records it broke in 2022 in all categories,
(The Center Square) – The Texas oil and natural gas industry paid a record $26.3 billion in state and local taxes and state royalties in fiscal 2023, the highest in
In Fiscal Year (FY) 2022, the Texas oil and natural gas industry paid $24.7 billion in state and local taxes and state royalties by far the highest total in Texas history shattering the previous record of just over $16 billion set in 2019 by 54%.
$15.8 billion translates to well over $43 million every day. Both state royalties and production taxes increased by more than 20% in fiscal year 2021 and production taxes exceeded $5 billion for only the third time in history.
(The Center Square) – The Texas oil and natural gas industry paid a record $15.8 billion in state and local taxes and state royalties in fiscal 2021, funds that directly