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May 2011

FEDERAL TAX POLICY COMMITTEE ISSUES STANCE REGARDING OIL AND GAS TAX INCENTIVES

TSCPA’s Federal Tax Policy Committee drafted a comprehensive analysis, and sent letters to U.S. Speaker of the House, John A. Boehner, Senate Finance Chairman Max Baucus, and members of the CPA caucus to express its belief that any effort to cut tax incentives and repeal benefits and allowances, could adversely affect the state’s oil and gas industry and the overall economy.

The committee also feels that changes to the tax code would result in a significant shift in the industry’s capital investment, contributing potential job losses for many small independent producers and drilling companies.

Read the Letter to Speaker Boehner

http://tscpa.org/Content/Files/pdf/Resource%20Center/Tax%20Issues%20Community/Letters/2011/BoehnerOilGas.pdf

Read the Oil and Gas Analysis

http://tscpa.org/Content/Files/pdf/About%20TSCPA/TaskForces/OGAnalysisLegProposals0311.pdf