The Inflation Reduction Act of 2022 permits the transfer of renewable energy tax credits to an unrelated party in exchange for cash as part of $369 billion in spending and tax credits for climate and energy programs. This provision could have a significant impact across the energy industry by…
Direct pay permits, which allow taxpayers to pay sales tax directly to the state rather than sellers, are becoming more common. Many businesses see direct pay as an essential element to the management of their state and local tax obligations, however there are still many questions. How do direct…
The Inflation Reduction Act of 2022, signed into law by President Joe Biden on August 16, 2022, includes $369 billion in spending and tax credits for climate and energy programs over 10 years. The Act is a smaller version of the Build Back Better Act (BBBA) passed in the House of Representatives…
In the volatile and ever-changing risk landscape of today’s energy sector, effective internal controls have never been more critical. Whether it is conducting strategic internal audits, managing SOX compliance, or just finding ways improve the way your business operates, improving internal…
Featured in HART Energy, Weaver’s ESG Practice Leader, Greg Englert, highlights the differences in EGS reporting frameworks and notes the growth of these metrics in within the oil and gas industry.
When the subject of ESG reporting comes up, you’re likely to encounter some head…
Is the oil spill tax under IRC Section 4611(b) unconstitutional when imposed on exports of crude oil? The outcome of the case will have a significant impact on oil and gas taxes.
Key Points:
The oil spill liability tax heavily impacts businesses within the oil and gas…
Several tax refund cases concerning Alternative Fuel Tax Credits and fuel mixtures could have a significant impact on the use of butane in alternative fuel blending. The Fifth Circuit Court of Appeals has upheld the decision of the District Court for the Southern District of Texas in Vitol Inc.…
Is your energy company paying too much in sales taxes? Are there taxes you should be paying that you don’t know about? Which purchases may be exempt from sales taxes?
Weaver’s State and Local Tax professionals, Mayur Naik and Blake Fuqua, answer these questions and more during this…
A constitutional challenge to the federal oil spill liability tax could have significant implications for the oil and gas industry. The Fifth Circuit Court of Appeals has upheld the decision of the District Court for the Southern District of Texas in Trafigura Trading, LLC v. U.S (5th Cir. No.…
In today’s turbulent marketplace, fluctuating valuations can create challenges for those involved in M&A activity in the energy industry. Many factors may affect energy operations from oil prices, to new technology, to heightened regulation and so forth. For these reasons and more, it is…
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