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Lion Oil Company is a private corporation engaged in refining and production of oil, gasoline, and oil-based products. It also manufactures asphalt, industrial solvents and roofing materials. [ 1 ] It also operates a gathering and transportation system that moves oil products in interstate commerce. [ 2 ]
Delek's logistics segment gathers, transports, and stores crude oil, as well as markets, distributes, transports and stores refined product in West Texas and the Southeast U.S. These operations serve as the logistics arm of Delek's company, primarily providing support for Delek's refining operations, while also serving third parties.
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.
For the first time since 2007, Ohio is increasing the amount of home value homeowners can exempt from their property taxes. Ohio expands its property tax exemptions, here's what you need to know ...
Ohio House Bill 140 calls for ballot language to be written in a way that would tell voters what levies would cost the owner of a home valued at $100,000 and how much the amount the tax would ...
Jul. 25—LIMA — Ohioans will have 10 days to shop without paying sales tax when Ohio's sales tax holiday returns next Tuesday. The tax holiday will be in effect from midnight Tuesday, July 30 ...
States usually calculate the tax based on the value and/or volume produced; sometimes the method differs for oil, natural gas, and condensates. [ 4 ] [ 5 ] Production from certain wells may be exempt from severance tax based on the amount of production (i.e. "stripper" wells) or the type of well (i.e. horizontal, tertiary, deep, etc). [ 5 ]
There are various terms describing ownership interests in an oil or gas well. An interest signifying a duty to pay expenses is called: Working Interest: the share of well drilling or operating expenses paid. The owner of a working interest will also own a corresponding, but usually lower, net revenue interest. Interests in receiving income include: