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


Tax Courses for CPE credit

Regular price $199.00 USD
Regular price Sale price $199.00 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 Texas Tax Overview
  • Sales & Use Tax
  • Well Servicing Tax
  • 8:40 Texas Sales Tax Rules
  • Taxable Materials, Supplies & Equipment
  • Renting Oilfield Equipment
  • Operator Leases
  • Real v. Tangible Personal Property
  • Taxable Services
  • 9:30 Texas Well Servicing Tax
  • Testing, Cementing, Shooting, Fracturing & Acidizing
  • Interplay with Sales Tax
  • Non-Taxable Charges
  • 9:50 Taxing Oilfield Services
  • Determining an Area of Interest
  • Acquiring Oilfield Leases
  • Moving Equipment & Rigging Up
  • 10:00 Break 10 Minute Break
    10:10 Taxing Oilfield Services Cont.
  • Drilling the Well
  • Completing the Well
  • Operating the Producing Oilfield
  • Workover
  • Plugging & Abandoning the Well
  • 11:40 Texas Tax Overview
  • Surface v. Subsurface Equipment
  • Proppant & Fracking Chemicals
  • Utility Costs
  • Offshore Exemptions
  • 12:00 Lunch Provided for In-Person Attendees

    Advanced Franchise Tax Workshop

    CPE Credit Hours: 4.0

    Program Level: Advanced

    Program Prerequisite: Texas Franchise Tax or 3 years experience preparing franchise tax returns

    Advanced Preparation: None

    Course Presenter: Jimmy Martens

    Course Time: 12:30 pm - 4:00 pm

    Location: 816 Congress - Austin, Texas

    Those with a basic understanding of Texas franchise tax law should attend this course to gain in-depth knowledge of Texas franchise tax issues arising in Texas' major industries from an attorney who works on the front lines, trying complex Texas franchise tax cases in court and arguing the related appeals.

    Learning Objectives

  • Apply franchise tax rules to numerous industry hypotheticals
  • Understand calculations for margin, apportionment, and research and development credit
  • Identify complex franchise tax issues arising in oil and gas real estate
  • Learn the details of the research credit provisions


    Time Topics Issues
    12:30 Revenue Exclusion
  • Texas General Contactor Problem
  • Texas Oilfield Operator Problem
  • 1:15 COGS
  • Dallas Integrated Oilfield Services Problem
  • EZ Rentals and Repairs Problem
  • Texas Cabinet Co. Problem
  • 1:40 Compensation Subtraction
  • Smith, Davis & Becker CPAs Problem
  • 1:50 Apportionment
  • Universal Studios Problem
  • Retail Stores Problem
  • Trucking Company Problem
  • 2:25 Break 10 Minute Break
    2:35 Management Company Exclusion
  • Apartment Management Company Problem
  • 2:50 Combined reporting
  • Toy Sellers Problem
  • 3:05 Challenging Tax Assessments
  • Bullet Construction Company Problem
  • 3:25 Texas Research Incentives
  • Game Developer Problem
  • Qualified Research Problem Set
  • 3:50 Medical Exclusion
  • Texas Physicians' Clinic Problem

    • 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