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Friday, November 22, 2024

Oklahoma ranks fourth in the U.S. for the most severance taxes paid in 2020

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In 2020, Oklahoma collected $829.2 million in severance taxes, ranking it fourth in the United States, according to the U.S. Census Bureau's Annual Survey of State Government Tax Collections (STC).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau cautions it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

U.S. severance taxes by State in 2020
RankStateAmount
1Texas$4,273,807,000
2North Dakota$2,086,801,000
3New Mexico$1,415,606,000
4Oklahoma$829,238,000
5Alaska$609,307,000
6Wyoming$505,573,000
7Louisiana$447,026,000
8West Virginia$267,049,000
9Montana$173,824,000
10Colorado$147,878,000
11Nevada$122,449,000
12California$110,000,000
13Kentucky$109,176,000
14Ohio$66,642,000
15Minnesota$56,358,000
16Utah$53,188,000
17Washington$38,408,000
18Mississippi$36,507,000
19Alabama$33,403,000
20Kansas$32,412,000
21Arkansas$28,962,000
22Florida$28,678,000
23Oregon$15,521,000
24Michigan$14,983,000
25Arizona$12,704,000
26Wisconsin$11,990,000
27South Dakota$5,881,000
28Idaho$5,781,000
29Nebraska$2,396,000
30Virginia$2,042,000
31North Carolina$1,724,000
32Indiana$852,000
33Tennessee$828,000
34Missouri$1,000
Source: U.S. Census Bureau

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