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Comprehensive Analysis of Oil and Gas Taxation  

CATEGORY: Taxation
Online & Mobile, Download
10 CPE Credits
Level: Advanced

This comprehensive course covers just about everything related to the taxation of oil and gas operations. Some of the topics include lease payments, property interests, the concept of unit of property, pre-drilling exploration costs, and intangible drilling and development costs (IDC). The course then delves into the computation of depreciation on lease and well equipment, the computation and limitations of cost and percentage depletion deduction on capitalized leasehold costs, certain proven property transfers, as well as the 65-percent taxable income limitation. This course rounds out the in-depth analysis and presentation with the classification of transactions as a lease, sublease, or sale, proper tax accounting for payments received by a grantor and payments made by a grantee including an examination of all elements involved in the conveyance, the application of the pool of capital doctrine, sharing arrangements, carried interests, and property interests received for the performance of certain services. Finally, this course describes the unitization of property and planning ideas to minimize the current tax liability resulting from the unitization of oil properties. The final exam for this course includes many hands-on, scenario based questions.

This course focuses on the development of in-depth knowledge, skill and application of oil and gas taxation. This course is most appropriate for the professional with mastery of general taxation who may be a seasoned professional within an organization but also may be appropriate for other professionals with specialized knowledge in oil and gas taxation.

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