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Coal drives 150% YTD increase in W.Va. severance taxes

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Coal drives 150% YTD increase in W.Va. severance taxes

West Virginia saw a 149.5% year-over-year jump in severance tax revenue through August, with coal the major source of the increase, Gov. Jim Justice said at a Sept. 4 news conference.

August severance tax collections were 75.1% higher than the same period a year ago, which Justice's office attributed in part to growth in the value of coal exports.

West Virginia imposes a 5% severance tax on coal mined in the state.

Coal production through Aug. 25 is up 2.1% year over year to 61.5 million tons, according to data from the U.S. Energy Information Administration.