Oil and gas taxation

second report
  • 51 Pages
  • 2.47 MB
  • 8401 Downloads
  • English
by
The Subcommittee , [Juneau]
Petroleum -- Taxation -- Alaska., Gas industry -- Taxation -- Al

Places

Al

Statementprepared for Senate Subcommittee on Taxation and Revenue ; prepared by Franklin D. Fleeks, Edwin Sterner.
SeriesMemorandum - Alaska State Legislature
ContributionsSterner, Edwin, joint author., Alaska. Legislature. Senate. Subcommittee on Taxation and Revenue.
Classifications
LC ClassificationsHD9567.A4 F57
The Physical Object
Pagination51 p. in various pagings :
ID Numbers
Open LibraryOL4069955M
LC Control Number79623786

From the acquisition of the mineral rights, to the exploration and development of the property, to the ultimate production of the mineral, there are unusual and challenging tax aspects along every step of the way. Oil and Gas: Federal Income Taxation () is an invaluable single-source handbook for accounting, tax and legal practitioners 5/5(2).

Oil and Gas: Federal Income Taxation is an invaluable single-source handbook for accounting, tax and legal practitioners concerned with financial issues related to oil and gas industry tax law. Updated and revised by noted oil and gas taxation authority and educator, Patrick A. Hennessee, Ph.D., CPA, and Sean P.

Hennessee, JD, this detailed. Authoritative industry references are available in Exhibit Research Materials, Oil and Gas Taxation. The list is also useful for the study of oil and gas taxation. While the list is not exhaustive, it will provide an excellent introduction.

From the acquisition of the mineral rights, to the exploration and development of the property, to the ultimate production of the mineral, there are unusual and challenging tax aspects along every step of the way.

Oil and Gas: Federal Income Taxation () is an invaluable single-source handbook for accounting, tax and legal Oil and gas taxation book /5(6). From the acquisition of the mineral rights, to the exploration and development of the property, to the ultimate production of the mineral, there are unusual and challenging tax aspects along every step of the way.

Oil and Gas: Federal Income Taxation () is an invaluable single-source handbook for accounting, tax and legal practitioners. Oil and gas taxation in the United States Deloitte Taxation and Investment Guides1 Summary The principal U.S.

taxes and rates applicable to companies in the oil and gas extraction business are: • Federal Income Tax 35% (top rate) • Federal Alternative Minimum tax (AMT) 20%. Chapters five through eight examine in detail the oil and gas lease.

Chapter nine addresses the issue of transfers by the lessor and the lessee. Oil and gas taxation book 10 through 12 are devoted to oil and gas taxation. Students will see that this work gives them quick access to the law of oil and gas and the law of oil and gas taxation.4/5(4).

Details Oil and gas taxation EPUB

An excellent training manual and professional reference, Fundamentals of Oil & Gas Accounting, 5th Edition, is packed with examples, diagrams, and appendices. The scope of this text is simply unmatched. The book has been completely updated to reflect the current issues facing oil and gas producers operating in both U.S.

and international s: The book aims to be the first choice for the new starter in upstream oil and gas taxation.

It also aims to be the best introduction of international tax issues relating to upstream oil and gas, enabling the reader to analyse and understand new situations and circumstances, rather than an encyclopaedic reference of tax.

Please read the second post in this oil and gas taxation series, which covers cost depletion and other related topics. Editor’s note: For more information, read “Basic Tax Reporting of Oil- and Gas-Related Activities” on the Intuit ProConnect Tax Pro Center as well as the IRS Oil and Gas.

Book Summary: The title of this book is Oil and Gas Tax and it was written by Denney L. particular edition is in a Paperback format. This books publish date is and it has a suggested retail price of $ Oil and Gas: Federal Income Taxation () is an invaluable single-source handbook for accounting, tax and legal practitioners concerned with financial issues related to oil and gas industry tax law.

Updated and revised by noted oil and gas taxation authority and educator, Patrick A. Hennessee, Ph.D., CPA, this detailed reference is divided 5/5(2). The taxation of natural resources is one of the more complicated areas of the U.S. federal income tax system. From the acquisition of the mineral rights, to the exploration and development of the property, to the ultimate production of the mineral, there are unusual and challenging tax aspects along every step of the way.

Oil and Gas: Federal Income Taxation is an invaluable single-source. She has coauthored two books: International Petroleum Accounting and Fundamentals of Oil and Gas Accounting and has published numerous journal articles and has made countless presentations and speeches on oil and gas industry-related topics.

Details Type: Hardcover Size: 7x10 Pages: Published: November ISBN: Global Oil and Gas Tax Guide. Payroll operations. Tax Guides Library Archive.

Worldwide Capital and Fixed Assets Guide. Worldwide Corporate Tax Guide. Worldwide Estate and Inheritance Tax Guide.

Worldwide Personal Tax and Immigration Guide. Worldwide R&D Incentives Reference Guide. Oil and Gas Tax by Denney L. Wright,Wolters Kluwer Law & Business edition, in EnglishPages: This annual publication provides an update on accounting, tax, and regulatory matters relevant to the oil and gas industry.

The update discusses matters critical to oil and gas entities, including updates to SEC, FASB, and tax guidance with a specialized focus on the oil and gas industry. Federal Taxation of Oil and Gas Transactions William Byrnes' authoritative Lexis treatise is the go-to analysis of the major issues for the upstream (extraction), midstream (transportation) and downstream (production refinement and distribution) aspects of the oil & gas supply chain.

Professor Byrnes collaboratively brings together the know-how of America's top oil and gas industry advisors. • Tax returns, audits and selected audit issues in the oil and gas industry • Federal excise taxes on oil and gas • Selected tax issues and provisions (e.g., alternative minimum tax, at-risk rules, passive activity limits, capitalization rules, and tax treatment of environmental cleanup costs).

Looking for oil and gas accounting courses for new employees. Our 4-day, in-person Building your Foundation in Oil and Gas course is the ideal training. View Course Details Economic Factors.

As the most knowledgeable and influential accounting professionals in oil & gas, we publicly share our recommendations on issues facing our industry. The provisions of the Tenth Schedule regulate the taxation of ‘oil and gas income’ derived by an oil and gas company, which comprises receipts and accruals derived from exploration or post-exploration in terms of any oil and gas right, or the leasing or disposal of such right.

All other income derived by an oil and gas company is subject to. The partnership first calculates its book depreciation deductions. The portion of its book basis equal to its tax basis is recovered ($1, per year for 4 years). The remaining $6, is recovered straight-line over ten years, or $ per year.

L/M thus has $1, of book depreciation for years 1 through 4 and $ for years 5 through @article{osti_, title = {Taxation of foreign oil and gas income: a primer}, author = {Lashbrooke, Jr, E C}, abstractNote = {The United States, just like many other countries of the world, uses the source of income, residence, citizenship, or a combination thereof as its bases of taxation.

This makes double taxation, the result of a home and host countries both taxing the same income, an. 8 Indonesian Pocket Tax Book PwC Indonesia Corporate Income Tax c. Costs incurred for acquiring the right to oil and natural gas concessions with a beneficial life of longer than one year are amortised using the production-unit method.

Costs incurred in the acquisition of mining rights. This Hornbook Treatise covers the substantive law of oil and gas as it relates to federal income taxation.

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The current version is available as an e-book through West Academic. A print version, updated by pocket parts, is kept in the Reserve Room (Call No. KF H44 ).

Table of contents 4 Preface 5 Introduction 5 Canada’s oil and gas industry 6 The tax environment 7 About this book 7 Glossary 7 Cross-references 7 Index 8 Overview of the Canadian tax regime 8 Oil and gas activities 8 Forms of organization 9 Income taxation 11 Capital gains 11 Utilization of losses 11 Tax administration 12 Filing requirements and tax payments 12 CorporationsFile Size: 2MB.

Gross Production Tax: A state tax imposed on companies that generate revenues by depleting non-renewable resources. Such companies include producers of oil and gas. Oil Taxation Manual This HM Revenue and Customs manual sets out the law and practice for the oil and gas fiscal regime.

Published 12 October From: HM Revenue & Customs. Documents. Oil.

Description Oil and gas taxation EPUB

88 Oil, Gas, and Mineral Lease,” which is a common form of Oil and Gas Lease. PV the SEC-reported value of particular Reserves. PV is a standard metric utilized in company disclosure filings with the SEC for valuation of a company’s oil and gas Reserves, defined as the present value of the.

Income From Oil and Gas Interest Subject to SE Tax Cross References • Methvin, T.C. Memo. • Methvin, 10th Circuit Court of Appeals, J The taxpayer was a former executive of a computer company with no special knowledge or expertise in oil and gas drilling.

He invested in working interests in several oil and. Colorado Severance Tax Forms DR Oil and Gas Severance Tax Return DR D Oil and Gas Severance Tax Computation Schedule DR S Application for Extension of Time to File Colorado Severance Tax Return This book includes: COLORADO DEPARTMENT OF REVENUE Denver, CO MAIL COLORADO SEVERANCE TAX RETURNS AND TAX PAYMENTS TO.

Page 2.In recent years, the oil and gas industry has had as many ups and downs as commodities prices. But despite challenges that include upstream volatility, midstream constraints, and industry consolidation, shifting customer demands and new technologies are opening up opportunities for oil and gas companies to explore.Oil and gas taxation is one of the more complicated areas of the federal income tax system.

The terminology, concepts and specific rules are challenging to learn and apply.