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Comprehensive Analysis of Oil and Gas Taxation  

CATEGORY: Taxation
COURSE ID: CLOILC, VERSION 6.00
(44)
Online & Mobile, Download
7 CPE Credits
Level: Advanced

This course focuses on the development of in-depth knowledge, skill and application of oil and gas taxation. Topics include lease payments, property interests, unit of property, pre-drilling exploration costs, and intangible drilling and development costs (IDC). The course covers depreciation, percentage depletion, certain proven property transfers, as well as the 65-percent taxable income limitation. Topics also include 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.

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