Search results
Results From The WOW.Com Content Network
Many of the "subsidies" available to the oil and gas industries are general business opportunity credits, available to all US businesses (particularly, the foreign tax credit mentioned above). The value of industry-specific (oil, gas, and coal) subsidies in 2006 was estimated by the Texas State Comptroller to be $6.25 billion - about 60% of the ...
The oil depletion allowance in American (US) tax law is a tax break claimable by anyone with an economic interest in a mineral deposit or standing timber. [citation needed] The principle is that the asset is a capital investment that is a wasting asset, and therefore depreciation can reasonably be offset (effectively as a capital loss) against income.
Oil and gas companies will have to pay more to drill on federal lands and satisfy stronger requirements to clean up old or abandoned wells under a final rule issued Friday by the Biden administration.
The Interstate Oil and Gas Compact Commission (IOGCC),< formerly the Interstate Oil Compact Commission, is a United States organization, representing the governors of 31 member and seven associate states, that works to ensure the nation's oil and natural gas resources are conserved and utilized to their maximum potential while protecting health, safety and the environment.
The energy policy of the Obama administration was defined by an "all-of-the-above" approach which offered federal support for renewable energy deployment, increased domestic oil and gas extraction, and export of crude oil and natural gas. [1]
A common example of this is the taxation of oil and natural gas royalty interest revenue. In order to ensure that the state receives a portion of the revenue from oil and gas leases within the state, any payments made to an address outside of the state require that a tax be withheld and paid directly to the state.
The national average price for a gallon of regular unleaded gas is currently $3.40. Of the major metropolitan areas surveyed in Missouri, drivers in Columbia are paying the most at $3.28 on average.
If at least three departments of a production hire a Missouri resident ready to advance to the next level in a specialized department, the project will receive an additional 5% tax credit.