Author: Silvio Joseph FlaimPublisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 392
Book Description
Federal Income Taxation of the United States Petroleum Industry and the Depletion of Domestic Reserves
Author: Silvio Joseph FlaimPublisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 392
Book Description
Federal Income Taxation of the U.S. Petroleum Industry and the Depletion of Domestic Reserves
Author: Silvio J. FlaimPublisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 106
Book Description
Federal Income Taxation of the U.S. Petroleum Industry and the Depletion of Domestic Reserves. Final Report
Author: Publisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
This paper models in a dynamic framework the production activities of the United States petroleum industry in an attempt to measure the effects of the federal income tax on reserve depletion. This model incorporates general corporate taxes, including the capital subsidies, excess depreciation and the investment tax credit, and taxes unique to the industry: drilling subsidies and percentage depletion. Because corporate response to tax incentives depends on market power and behavior, three behavioral assumptions are tested for consistency with the 1960 to 1974 data period before the tax policies are simulated. These assumptions are perfect competition, profit monopoly, and sales monopoly. The tax policies simulated at the end of this paper present six possible alternatives for future petroleum industry taxation. Sales monopoly is selected as the behavioral assumption that best describes petroleum industry behavior. Tax simulations under sales monopoly reveal that historical income tax policies have kept oil prices artificially low, stimulating (subsidizing) reserve depletion.
Oil and Gas Tax
Author: Denney L. WrightPublisher: Aspen Publishing
ISBN: 1543817580
Category : Law
Languages : en
Pages : 575
Book Description
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 years as Congress, the IRS, the courts and taxpayers have designed, interpreted, and pursued energy development. Taxpayers and the government have had to deal with the high risk and significant costs associated with oil and gas development, all within the context of oil and gas production being a core national security priority through the years. The unconventional revolution combined with continued significant conventional 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 is application of conventional rulesto unconventional production processes, which is highlighted and explored in 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 aspects of the law Text that fits unconventional 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
Tax Policy
Author: United States. General Accounting OfficePublisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 144
Book Description
Dependence on Foreign Oil
Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Energy and Agricultural TaxationPublisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 312
Book Description
An Analysis of the Federal Tax Treatment of Oil and Gas and Some Policy Alternatives
Author: Leroy DunnPublisher:
ISBN:
Category : Energy policy
Languages : en
Pages : 68
Book Description
Profitability of Domestic Energy Company Operations
Author: United States. Congress. Senate. Committee on FinancePublisher:
ISBN:
Category : Petroleum
Languages : en
Pages : 236
Book Description
An Analysis of the Depletion Tax Provision as it Applies to the Petroleum Industry
Author: Standard Oil CompanyPublisher:
ISBN:
Category : Depletion allowances
Languages : en
Pages : 28
Book Description
Oil and Gas Tax Provisions
Author: United States. Congress. Senate. Committee on Finance. Subcommittee on Energy, Natural Resources, and InfrastructurePublisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 200
Book Description