Each State has its own unique tax requirements on the Oil and Gas industry and we are here to assist you.
Many states offer allowable deductions, offer exemptions, or provide the opportunity to receive a credit on your severance taxes. The Woolery Group is here to make sure you are taking advantage off all opportunities afforded to you. We will help you to reduce your tax burden and will file for missing credits.
If you are performing workover’s in Utah don’t miss out on the severance tax credits potentially available to you. These credits require third party review, allow us assist you in this process.
Texas offers many severance tax credits including low production wells, high cost gas well rate reductions on new drills, and deductions for operator owned gas gathering systems past the first separator. We will help you through these processes and determine what steps you need to take.
Several states perform cross report comparisons and if you are struggling with your volumes disagreeing between your different reports, we are here to help. Many companies have their royalties, production, and taxes reported by different individuals who do not communicate or perform an internal reconciliation to make sure all volumes are in agreement. By allowing us to manage your monthly severance and ad valorem tax (gross production tax) reporting, we will make sure they agree.