Insights & Resources

“Flowback services” used to transition an oil and gas well to production after hydraulic fracturing are taxable as equipment rentals under the Texas Administrative Code.

The summer of 2021 held promise for moving past COVID-19 restrictions and returning to normal. Unfortunately, the Delta variant did not get the memo and has plunged the world back into uncertainty.

When cryptocurrencies first came on the scene, they were widely viewed as a fringe development, but in recent years they’ve moved closer to the mainstream.

The Internal Revenue Service (IRS) recently extended tax filing and payment deadlines for victims of Hurricane Ida, the California wildfires, and the severe storms and flooding in Tennessee.

The Tax Cuts and Jobs Act (TCJA) eliminated a significant tax benefit for investors that are charged investment fund management fees.

The Alabama Department of Revenue issued three executive orders to ease the availability of automobile fuel after Hurricane Ida.

The recently passed $1 trillion Infrastructure Investment and Jobs Act includes a proposal to reinstate Superfund excise taxes on the sale and import of certain chemicals as an offset to the bill’s spending provisions.

Created as part of the Tax Cuts and Jobs Act of 2017, the Qualified Opportunity Zone program created tax incentives for certain investments in lower income areas.

New Mexico recently changed the reporting location for its gross receipts tax and compensating tax to destination-based sourcing for most goods and certain services. The changes took effect July 1, 2021.

California Governor Gavin Newsom signed into law budget legislation that includes a workaround of the $10,000 federal cap on state and local tax (SALT) deductions implemented under the Tax Cuts and Jobs Act (TCJA).

The governments of the United States and the U.K. agreed that residents of the U.K., Mexico, and Canada will continue to receive favorable tax treatment under the U.S.-U.K. income tax treaty.

The Biden administration has proposed a number of renewable energy tax incentives in its recently released Green Book on tax proposals for its fiscal year 2022 budget.