Oil and Gas Taxation - Operations, Unit of Property and Development  

This is the first course in a series providing a comprehensive presentation of oil and gas taxation. It focuses on developing in-depth knowledge, skill, and application. The basics are presented, including the taxation of oil and gas leasing payments and property interests. Unit of property and pre-drilling exploration costs are defined and explained. Intangible drilling and development costs (IDC) are discussed, including the election to deduct IDC, who can take the deduction, and when it is allowed. This course is most appropriate for the professional with detailed knowledge in federal income taxation who may be at a mid-level position within an organization or a seasoned professional with limited exposure to this topic.