Impact of the windfall profit tax on royalty owners

Journal Article · Wed Nov 30 23:00:00 EST 1983 · Oil Gas Tax Q.; (United States)

OSTI ID:5288720

Fambrough, J

The tax rates imposed on independent oil and gas producers, integrated producers, and royalty owners are examined to show that the Windfall Profits Tax affects royalty owners just as severely as (and in some cases, more adversely than) it does producers. Even though royalty owners do not calculate and pay the tax directly, some basic knowledge is important. Qualified royalty owners should make sure to file Form 6783 with the purchaser or entity withholding the tax so that a quicker return for the daily exemption can be achieved. The proper deduction of the tax on the individual tax return in relation to the depletion allowances can save time and money. 16 references.

• Research Organization: Texas A and M Univ., College Station
• OSTI ID: 5288720
• Journal Information: Oil Gas Tax Q.; (United States), Journal Name: Oil Gas Tax Q.; (United States) Vol. 32:2; ISSN OGTQD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
021000* -- Petroleum-- Legislation & Regulations
03 NATURAL GAS
031000 -- Natural Gas-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
CALCULATION METHODS
ECONOMIC IMPACT
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INCOME
NATURAL GAS
PETROLEUM
ROYALTIES
TAXES
WINDFALL PROFITS TAX