A primer on domestic oil and gas, Part IV : nonproductive well determination
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The work A primer on domestic oil and gas, Part IV : nonproductive well determination represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
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A primer on domestic oil and gas, Part IV : nonproductive well determination
Resource Information
The work A primer on domestic oil and gas, Part IV : nonproductive well determination represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
- Label
- A primer on domestic oil and gas, Part IV : nonproductive well determination
- Language
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- eng
- 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),
- Geographic coverage
- North America
- Language note
- English
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