The Resource A primer on domestic oil and gas, Part IV : nonproductive well determination

A primer on domestic oil and gas, Part IV : nonproductive well determination

Label
A primer on domestic oil and gas, Part IV : nonproductive well determination
Title
A primer on domestic oil and gas, Part IV : nonproductive well determination
Creator
Subject
Language
eng
Summary
This is the final part of a four-part series examining the tax treatment of two kinds of costs pertaining to domestic oil and gas extraction: geological and geophysical costs, and intangible drilling and development costs (IDC). This article discusses the determination of a nonproductive well under existing oil and gas tax laws. A nonproductive well can impact computations for the alternative minimum tax (AMT); the adjusted current earnings computation; the AMT IDC preference computation; if the election to expense all IDC was not made and IDC has been capitalized under Code Sec. 263(a), the option to deduct only nonproductive well IDC; capitalized foreign IDC; the capitalization of certain indirect and overhead costs to the depleteable leasehold tax basis; an integrated producer's amortizable IDC under Code Sec. 291(b)(1); corporate earnings and profits; and the potential recapture under Code Sec. 1254
Citation source
In: Taxes - the tax magazine. - Chicago. - Vol. 91 (2013),
http://library.link/vocab/creatorName
  • Griffith, C.R
  • Swiech, R.A
Geographic coverage
North America
Language note
English
http://library.link/vocab/subjectName
  • mineral taxation
  • natural resources
  • drilling and development costs
  • windfall profits tax
Label
A primer on domestic oil and gas, Part IV : nonproductive well determination
Instantiates
Publication
Label
A primer on domestic oil and gas, Part IV : nonproductive well determination
Publication

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      52.3736660 4.9336932
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