The Louisiana Governor signed a law concerning the severance tax. The law includes: 1) reducing the severance tax to 6.5 percent on oil produced from wells completed on or after July 1; 2) changing the special rate on oil produced from incapable wells to 6.25 percent; 3) changing the special rate on oil produced from stripper wells to 3.125 percent; and 4) changing the special rate on oil produced from inactive wells and orphan wells. The law takes effect on July 1, contingent on enactment into law of H.B. 495 of the 2025 Regular Session of the legislature, and applies ...
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