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Sales and Use Tax for the Oilfield Services Industry - 9/4/24 - Austin, TX

lat-seminars

Tax Courses for CPE credit
$129.00 USD
$129.00 USD
Sale State Society Sponsored Course
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September 4, 2024

Course Countdown:

 

Texas Sales & Use Tax for the Oilfield Services Industry

CPE Credit Hours: 4.0

Program Level: Basic

Program Prerequisite: None

Advanced Preparation: None

Course Presenter: Jimmy Martens

Course Time: 8:30 am - 12:00 pm

Location: 816 Congress Austin, Texas

This course explains how the Texas sales & use tax and well servicing tax rules apply to the oilfield services industry at all stages of the drilling and completion processes. The course starts with determining an area of interest, then proceeds through the drilling and completion of a well. After discussing the rules for producing fields, we conclude with tax rules for workover, plugging, and abandonment. We also review the Comptroller’s recent change in taxing policies for oilfield services, including flowback, directional drilling, and others.

Learning Objectives

Learn how the taxing process applies to the oilfield service industry in these stages:

  • Seismic and Site Work
  • Drilling and Completion
  • Well-Servicing Issues
  • Operating Producing Fields


    • Time Topics Issues Covered
    8:30 Before the Audit Begins
  • Reconciling Accounts
  • Resale and Exemption Certificates
  • Statute of Limitations
    		•
    9:15 During the Audit
  • Audit Selection
  • Identifying Audit Issues
  • Controlling Information
  • Documentation Deadlines
  • Auditor Notes and Workpapers
    		•
    9:50 Break 10 Minute Break
    10:00 Choices in Challenging Audit Results
  • Independent Audit Review Conference
  • Administrative Hearings
  • Protest & Refund Suits
  • Appeals
  • Advantages and Disadvantages
    		•
    10:30 Handling An Administrative Hearing
  • Petition for Redetermination
  • Refund Claims
  • Discovery
  • Hearing Preparation and Strategies
  • The Oral Hearing
  • Post Hearing Briefing
    		•
    11:20 State District Court Litigation
  • Protest Suits
  • Refund Suits
  • Injunctive Relief
  • Suits After Redetermination
    		•
    3:30 Appeals
  • Nature and Purpose
  • Timing and Procedure
  • Costs of Appeal
  • Outcome and Next Steps
    		•
    11:35 After an Assessment Becomes Final
  • Successor Liability
  • Officer & Director Liability
  • Employer Liability
    		•






    • NASBA Statement

      LAT Seminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority over the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket