§ 58.1-3712. Counties and cities authorized to levy severance tax on coal andgases.
A. The governing body of any county or city may levy a license tax on everyperson engaging in the business of severing coal or gases from the earth.Such tax shall be at a rate not to exceed one percent of the gross receiptsfrom the sale of coal or gases severed within such county. Such grossreceipts shall be the fair market value measured at the time such coal orgases are utilized or sold for utilization in such county or city or at thetime they are placed in transit for shipment therefrom, provided that if thetax provided herein is levied, such county or city cannot enact theprovisions of § 58.1-3286 relating to a tax on gross receipts. In calculatingthe fair market value, no person engaging in the production and operation ofsevering gases from the earth in connection with coal mining shall be allowedto take deductions, including but not limited to, depreciation, compression,marketing fees, overhead, maintenance, transportation fees, and personalproperty taxes.
B. Notwithstanding any other provision of this section or law, for purposesof calculating the fair market value of gases severed in Buchanan County,except as otherwise provided in a settlement agreement regarding thecalculation of fair market value, including deductions for transportation andcompression costs, between the County and the taxpayer, no person engaging inthe production and operation of severing gases from the earth in connectionwith coal mining shall be allowed to take deductions, including but notlimited to, depreciation, compression, marketing fees, overhead, maintenance,transportation fees, and personal property taxes.
C. Any county or city enacting a license tax under this section may requireproducers of coal or gas and common carriers to maintain records and filereports showing the quantities of and receipts from coal or gases which theyhave produced or transported.
(Code 1950, § 58-266.1:1; 1973, c. 522; 1976, c. 53; 1984, c. 675; 2002, c.433; 2009, c. 770.)
§ 58.1-3712. Counties and cities authorized to levy severance tax on coal andgases.
A. The governing body of any county or city may levy a license tax on everyperson engaging in the business of severing coal or gases from the earth.Such tax shall be at a rate not to exceed one percent of the gross receiptsfrom the sale of coal or gases severed within such county. Such grossreceipts shall be the fair market value measured at the time such coal orgases are utilized or sold for utilization in such county or city or at thetime they are placed in transit for shipment therefrom, provided that if thetax provided herein is levied, such county or city cannot enact theprovisions of § 58.1-3286 relating to a tax on gross receipts. In calculatingthe fair market value, no person engaging in the production and operation ofsevering gases from the earth in connection with coal mining shall be allowedto take deductions, including but not limited to, depreciation, compression,marketing fees, overhead, maintenance, transportation fees, and personalproperty taxes.
B. Notwithstanding any other provision of this section or law, for purposesof calculating the fair market value of gases severed in Buchanan County,except as otherwise provided in a settlement agreement regarding thecalculation of fair market value, including deductions for transportation andcompression costs, between the County and the taxpayer, no person engaging inthe production and operation of severing gases from the earth in connectionwith coal mining shall be allowed to take deductions, including but notlimited to, depreciation, compression, marketing fees, overhead, maintenance,transportation fees, and personal property taxes.
C. Any county or city enacting a license tax under this section may requireproducers of coal or gas and common carriers to maintain records and filereports showing the quantities of and receipts from coal or gases which theyhave produced or transported.
(Code 1950, § 58-266.1:1; 1973, c. 522; 1976, c. 53; 1984, c. 675; 2002, c.433; 2009, c. 770.)
§ 58.1-3712. Counties and cities authorized to levy severance tax on coal andgases.
A. The governing body of any county or city may levy a license tax on everyperson engaging in the business of severing coal or gases from the earth.Such tax shall be at a rate not to exceed one percent of the gross receiptsfrom the sale of coal or gases severed within such county. Such grossreceipts shall be the fair market value measured at the time such coal orgases are utilized or sold for utilization in such county or city or at thetime they are placed in transit for shipment therefrom, provided that if thetax provided herein is levied, such county or city cannot enact theprovisions of § 58.1-3286 relating to a tax on gross receipts. In calculatingthe fair market value, no person engaging in the production and operation ofsevering gases from the earth in connection with coal mining shall be allowedto take deductions, including but not limited to, depreciation, compression,marketing fees, overhead, maintenance, transportation fees, and personalproperty taxes.
B. Notwithstanding any other provision of this section or law, for purposesof calculating the fair market value of gases severed in Buchanan County,except as otherwise provided in a settlement agreement regarding thecalculation of fair market value, including deductions for transportation andcompression costs, between the County and the taxpayer, no person engaging inthe production and operation of severing gases from the earth in connectionwith coal mining shall be allowed to take deductions, including but notlimited to, depreciation, compression, marketing fees, overhead, maintenance,transportation fees, and personal property taxes.
C. Any county or city enacting a license tax under this section may requireproducers of coal or gas and common carriers to maintain records and filereports showing the quantities of and receipts from coal or gases which theyhave produced or transported.
(Code 1950, § 58-266.1:1; 1973, c. 522; 1976, c. 53; 1984, c. 675; 2002, c.433; 2009, c. 770.)
