McKinnon Patten & Associates LLC

Oil and Gas Tax Services

Oil and Gas Tax Services

Our professionals assist companies in the oil and gas industry with corporate income tax, royalty and production taxes, property taxes, compliance, statutory reporting and tax accounting calculations, expatriate tax return processing and indirect tax reporting.

Our tax advisory services can assist companies with transaction planning, enterprise risk management activities and aligning their tax planning strategies with their business operations. Our corporate and international tax professionals help structure transactions tax-effectively, manage the tax burden and improve sustainable growth.

Our oil and gas industry tax advisory services include:

  • Strategies to maximize deductions related to drilling costs.
  • Specific multi-state tax income tax expertise as it pertains to withholding and statutory depletion requirements.
  • Transaction structuring to maximize IDC and other tax benefits.
  • Guidance on entity planning with concentration in complex joint venture, LLC, and partnership structures.
  • Exit planning to minimize tax liability.
  • Severance tax
  • Section 382 Studies
  • Domestic production activities (Section 199)

Our team is trained to understand and respond to the unique needs of the oil and gas industry. We assist producers, operators, drillers and explorers involved in all phases of the extractive process from exploration, to drilling and production. Our goal is not only to minimize your tax liability, but also to help you create an effective accounting system that will minimize the necessary work.

Request a Consultation or call Mark Patten at 214-696-1922 to find out how we can help your petroleum industry business save money on taxes. We work with a wide range of business throughout the oil and gas industry including drilling, exploration, seismic, subsea, production and pipeline companies.