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Definition of Severance tax
1. Noun. (American English) A state tax on the extraction of nonrenewable natural resources (such as minerals, petroleum, or natural gas) that will be used in another state. ¹
¹ Source: wiktionary.com
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1. Noun. (American English) A state tax on the extraction of nonrenewable natural resources (such as minerals, petroleum, or natural gas) that will be used in another state. ¹
¹ Source: wiktionary.com