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Texas Sales and Use Tax for the Oilfield Services Industry - 11/14/24 - Live Replay

lat-seminars

Tax Courses for CPE credit
$129.00 USD
$129.00 USD
Sale State Society Sponsored Course
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November 14, 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: Live Replay (Online)

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
    		•








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      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