Skip to main content

Search

Permian Basin Oil and Gas Companies Receive Continued Tax Benefits

Article
1 minute read
July 31, 2017

Congress has recently approved legislation that allows companies to enjoy many of the same tax benefits from the 2013 tax year. 

Capital-intensive industries, such as the oil and gas industry, can greatly benefit from the depreciation provisions of the Tax Increase Prevention Act of 2014 (TIPA). While TIPA does not yet extend into future tax years, the act does provide immediate benefits to oil and gas companies for 2014.

In the Midland Reporter-Telegram, Laura Roman, partner in tax and strategic business services, discusses the extended provisions that fall under the TIPA legislation: 

For Texas, especially the Permian Basin area, this act spurs economic growth by allowing oil and gas companies to use tax savings for reinvestment. 

To learn more about TIPA provisions and specific benefits to the oil and gas industry, visit Laura’s Midland Reporter-Telegram article TIPA extends tax benefits for Permian Basin oil and gas companies.