May 4, 2023

Name: Texas & Louisiana Sales and Use Tax for the Oilfield Services Industry - 5/4/23 - New Orleans, LA
Brand: lat-seminars
Price: 149.0 USD
Availability: InStock

Course Countdown:

Texas & Louisiana Sales and Use Tax for the Oilfield Services Industry

CPE Credit Hours: 8.0

Program Level: Basic

Program Prerequisite: None

Advanced Preparation: None

Course Presenter (Texas): Jimmy Martens

Course Presenter (Louisiana): Gary Dressler

Course Time: 8:30 am - 4:00 pm

Location: New Orleans

This course explains how the Texas & Louisiana sales and use tax plus well servicing tax rules apply to the oilfield services industry at all stages of the drilling and completion processes. This 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, and plugging & abandonment. We also review the Comptrollers recent change in taxing policies for oilfield services, including flowback, directional drilling, and others.

Learning Objectives

Seismic and Site Work

Drilling and Completion

Well-Servicing Issues

Operating Producing Fields

Workover

Time	Topics	Issues Covered
8:30	Texas Sales and Use Tax Overview	Texas Sales & Use Tax Well Servicing Tax
8:40	Texas Sales Tax Rules	Taxable Materials, Supplies, and Equipment Renting Oilfield Equipment Operator Leases Real v. Tangible Personal Property Texas Sales & Use Tax Taxable Oilfield Services
9:30	Texas Well Servicing Tax	Testing, Cementing, Shooting, Fracturing, and Acidizing Non-taxable Services Interplay with Sales Tax
10:00	Break	10 Minute Break
10:10	Taxing Oilfield Services	Determining an Area of Interest Acquiring Oilfield Leases Moving Equipment & Rigging Up Drilling the Well Operating the Producing Oilfield Workover Costs Plugging & Abandoning the Well
11:40	Oilfield Tax Exemptions	Surface v. Subsurface Equipment Proppant & Fracking Chemicals Utility Costs Offshore Exemptions
12:00	Lunch	Provided for In-Person Attendees
12:30	Louisiana Tax Overview	Sales & Use Tax Taxable Goods and Services Lease Tax and Leases Local Sales, Use, and Lease Tax
1:00	Louisiana Sales Tax Issues	Seismic/Geophysical Work Leases – for Re-lease, Offshore, and Inter-Parish First Use Offshore Repairs – Offshore Drilling and Exploration Immovable Property Compression Services/Leases Oilfield Services
2:00	Break	10 Minute Break
2:10	Louisiana Sales Tax Issues – Cont’d	Seismic/Geophysical Work Leases – for Re-lease, Offshore, and Inter-Parish First Use Offshore Repairs – Offshore Drilling and Exploration Immovable Property Compression Services/Leases Oilfield Services
3:00	Handling Louisiana Audits	Statute of Limitations Credit for Taxes Paid Managed Audits Pre-Audit Planning Dealing with the Louisiana or Parish Auditor

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

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