Federal Taxation of Oil and Gas Transactions

Covers the depletion deduction; tax treament of costs incurred in drilling; oil and gas partnerships; equipment depreciation, and more.

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Print Book:2 volumes, looseleaf; updated semi-annually
ISBN: 9780820512808
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ISBN: 9781579116163
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ISBN: 9781579116163
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Product description

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This authoritative Lexis treatise brings together in one publication the know-how of America's top oil and gas experts. These experts clearly explain and analyze the major issues concerning tax risk officers and corporate decision makers in the extractive, refinement, and distribution markets of the oil and gas industry.

•     Depletion (cost depletion and percentage depletion)

•     Property unit in oil and gas operating and non-operating sites

•     Joint operations, including limited liability companies

•     Unit operations

•     Lease costs

•     Drilling and development

•     Economic interests issues in mineral taxation

•     Sharing arrangements

•     Partnerships

•     Sales and other dispositions

•     Depreciation

•     Foreign oil and gas activities and the foreign tax credit

•     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)

•     State tax and substantive law issues, compared

Contains a topical index and tables of cases, statutes, regulations, letter rulings, and other citations.

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Table of contents


Chapter 1: Depletion--Concepts and History

Chapter 2: Cost Depletion

Chapter 3: Percentage Depletion

Chapter 4: The Property Unit

Chapter 5: Joint Operations

Chapter 6: Unit Operations

Chapter 7: Lease Costs

Chapter 8: Intangible Drilling and Development Costs: Current Expense vs. Capitalized Cost

Chapter 9: Economic Interests

Chapter 10: Sharing Arrangements

Chapter 11: Partnerships

Chapter 12: Sales and Other Dispositions

Chapter 13: Depreciation

Chapter 14: Foreign Oil and Gas Activities and the Foreign Tax Credit

Chapter 15: Selected Tax Issues and Provisions


Chapter 16: Windfall Profit Tax (Repealed)

Chapter 17: The Tax Return, Audits and Selected Audit Issues in the Oil and Gas Industry

Chapter 18: Federal Excise Taxes on Oil and Gas

Chapter 19: Comparison of State Oil & Gas Law

Chapter 20: Master Limited Partnerships

Chapter 21: Sale Versus Lease Considerations in Oil and Gas Transactions

Chapter 22: Characterization and Taxation of Cross-Border Pipelines

Table of Statutes and Regulations

Table of IRS Administrative Pronouncements

Table of Cases