Impact of the Windfall Profit Tax on the royalty owner: what you don't know can hurt you

Journal Article · Mon Dec 01 04:00:00 EST 1980 · Oil Gas Tax Q.; (United States)

OSTI ID:6651076

Reese, C E

An analysis of how various types of royalty owners are taxed for Windfall Profit Tax purposes shows that there are no current opportunities for tax planning available. The tax relief pending in Congress does not offer any obvious tax-planning opportunities because the proposed legislation is designed to preclude more than one taxpayer among a group of taxable persons who are related from qualifying for a specific tax-relief provision. The royalty owner's nonoperating economic interest in oil production is normally at the mercy of the independent producer, integrated oil company, or other operator in respect to the level of production from a well where the use of more technology or the incurring of greater production costs could result in more production and royalty income. 38 references, 2 tables.

• Research Organization: Univ. of Texas, Austin
• OSTI ID: 6651076
• Journal Information: Oil Gas Tax Q.; (United States), Journal Name: Oil Gas Tax Q.; (United States) Vol. 24:2; ISSN OGTQD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700 -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
293000 -- Energy Planning & Policy-- Policy
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& Regulation
294002* -- Energy Planning & Policy-- Petroleum
ACCOUNTING
ECONOMIC IMPACT
INCOME
INDUSTRY
PETROLEUM INDUSTRY
PLANNING
ROYALTIES
TAXES
WINDFALL PROFITS TAX