Will There Be an End to Tax Incentives for Profitable Oil and Gas Companies?
2011-05/09 Megan K. Heinzelman

On April 29, Senate Finance Committee Chair Max Baucus said he would introduce legislation to end “billions of dollars in tax breaks” for large, multinational oil and gas companies.  This movement towards new legislation likely arose from recent announcements of record profits along with high energy consumer costs.       

The largest oil and gas companies will be most affected by a proposed elimination of a manufacturing deduction, a reduction of the foreign tax credit, and an imposition of an excise tax on certain uses of the Gulf coast. 

For more information about tax and tax incentives, please call Attorney Megan K. Heinzelman, who is the author of this article. 

© 2011 Ruder Ware, L.L.S.C. Accurate reproduction with acknowledgment granted. All rights reserved.
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