Make sure you are up-to-date on the latest Texas oil and gas taxation rules and regulations.
Effective 9/1/2015, the Texas legislature modified and repealed taxes related to the oil and gas industry. Technological advances in drilling continue to raise taxability issues. Recent rulings and case law may have a significant effect on the applicability of various state taxes and related exemptions, such as the manufacturing exemption, the franchise tax cost of goods sold deduction, and potential exclusions for flow-through revenues, in this changing environment. Glenn Hegar took over as Texas Comptroller in 2015. The Comptroller's office has increased its activity and is busy conducting audits of taxpayers in the industry. This topic is designed to update professionals on Texas state tax issues facing the oil and gas industry, and will address Texas state tax issues throughout the stages of production and sale, including sales and use tax, well services tax, well severance taxes, and the franchise (margin) tax.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Sales and Use (and Well Servicing) Tax
- Stages of Drilling and Production: Taxable (and Nontaxable) Services
- Manufacturing Exemption for Oil and Gas
- Real Estate and Tangible Personal Property
- Well Servicing Tax
Franchise Tax Issues
- Manufacturing and Production
- Transportation
- Cost of Goods Sold Updates
- Combined Reporting Issues
- Special Oil and Gas Provisions
Other Tax Issues
- Production/Severance Taxes
- Fuel Tax
- Claiming Exemptions
- Reporting Requirements
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on January 18, 2016.
Call 1-866-352-9540 for further credit information.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Christina (Christi) A. Mondrik, CPA, Esq.,TBLS Board Certified - Tax Law
Mondrik & Associates
Christina A. Mondrik, Esq., CPA
- Founder of Mondrik & Associates, www.mondriklaw.com
- Board Certified, Tax Law, Texas Board of Legal Specialization
- Represents taxpayers in resolving state and federal tax controversies and litigation
- 2019 - 2020 chair, Tax Section, State Bar of Texas
- 2024 - 2025 treasurer, Texas Society of CPAs
- vice-chair, American Bar Association Section of Taxation State and Local Tax Committee
- J.D. degree, with honors, University of Texas School of Law; B.B.A. degree, accounting, University of Texas
- Can be contacted at 512-542-9300 or [email protected]
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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