Severance Tax Practice

Our total approach guarantees all production tax incentives are identified and captured. We combine a robust knowledge of tax compliance procedures with an aggressive pursuit of all available production incentives. From identifying properties in the field that may qualify for incentives, to tax return documentation—we handle the entire process. As such, we can identify the potential opportunity, all parties on the lease, and the time periods affected. Our tax professionals have experience in all facets of oil & gas taxation.

We begin a project by performing a detailed analysis of the client’s operations, researching each well individually, and ensuring all available opportunities are identified and quantified. Most of this work is done offsite; information is gleaned from government and public sources. We then aggressively pursue each opportunity, minimizing tax liability effectively and efficiently.

Services include: Compliance reviews designed to identify and recover taxes, such as unclaimed incentives, lease & commodity coding issues, mishandled amendments; incentive reviews of tax credits associated with high-cost gas production, incremental production from recompletions or workovers, previously inactive and shut-in well production, production from horizontal wells, deep wells, and new discovery wells. We also perform IRC Section 29 look-back reviews, marketing cost deduction recalculation services, open adjustment notice review and cleanup services, sales and use tax credit recovery services focusing on lease activities, and tax reimbursement contract review services.

For more information regarding Streamline’s Severance tax services, please contact us at (972) 838-1900.