Oil and Gas Tax —— A Comprehensive Study

----- 石油和天然气税:全面的研究

ISBN: 9781543816112 出版年：2019 页码：576 Wright, Denney L Aspen Publishers

Taxation of oil and gas is one of the more complicated areas of the U.S. federal income tax law. Unique principleshave developed over the yearsas Congress, the IRS, the courts and taxpayers have designed, interpreted,and pursued energy development. Taxpayers and the governmenthave had to deal with the high risk and significant costs associated with oil and gas development, all within the context ofoil and gas productionbeing a core national security priority through the years. The unconventional revolution combined with continuedsignificantconventional development has caused a renewed interest in these matters. Taxation is always crucial in judging the economics of oil and gasdevelopment, so this casebook should prove timely as taxpayers and financial advisors renew their interest — or immerse themselves for the first time — in these concepts and principles.A particular challenge isapplication of conventional rulesto unconventional production processes, which ishighlightedand exploredin this timely casebook. The aim of Chapter 1 is to provide an overview of the history of oil and gas development in the United States, as well as to introduce basic federal income tax concepts. This knowledge will facilitate the in-depth study of U.S federal oil and gas taxation in Chapters 2–11. Professors and students will benefit from: Discussion of historic oil and gas industry and general federal income tax issues Discussion of oil and gas tax principles, provisions and policies, highlighting unique aspectsof the law Text that fitsunconventional development into the conventional tax rules developed over the years Practitioners will benefit from: Refresh of oil and gas tax issues contained in a casebook dedicated entirely to oil and gas tax matters Comparison and contrast of unconventional and conventional principles, policies and tax rules