Publications: Notes at the Margin

The Texas Oil Price Killer (December 18, 2023)

 

Texas is one of eight US states that levy a tangible personal property (TPP) tax on inventories. Oklahoma and Louisiana also tax TPP, for example, but in a fashion that is not as disruptive to the oil market. The Texas tax encourages firms to dispose of stocks as the year ends, and those tax-induced sales tend to depress prices.

 

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