The taxation of natural resources can be one of the most complicated areas of the U.S. Federal income tax system. This course is written to be an invaluable resource for accounting and tax practitioners working with financial issues related to oil and gas industry law. This first part will cover such topics as purchase agreements, royalties, mineral interests, development costs, depletion deduction, cost depletion, gross income and more. All course material provided. Prerequisites: working knowledge of the oil and gas industry and taxation issues. Course level: Intermediate. EA Program Approval Number: ZX34G-T-00343-19-S
PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.