Selected U.S. Oil and Tax Issues for Non-Tax Lawyers

December 21, 1999

Outline of the Publication

  • Introduction and Scope of Outline
    • General
    • Anomalies
    • Commodity Price Volatility
  • Issues Arising from the Taxation of Financially Distressed Oil and Gas Producers
    • Title and Federal Tax Liens
    • Federal Income Tax Aspects of Sales and Other Dispositions of Property Occurring Outside Bankruptcy
    • Character and Timing of Gains (and Losses)
    • Federal Income Tax Aspects of Sales and Other Dispositions of Property by the Bankruptcy Estate
    • Cancellation of Indebtedness Outside Bankruptcy
    • Cancellation of Indebtedness - Bankrupt Debtor
    • Section 382 Limitation on Net Operating Loss Carry Forward Following Ownership Change 
  • Amoritization of Intangibles
    • Increasing Significance
    • Code Section 197
  • Three Party Like Kind Exchanges
    • Tax Effect
    • Like Kind Property
    • Deferred Exchanges
    • Recapture - No Mixing of Types of Assets
  • Tax Law - The Trailing Edge on Defining a Seperate Property
    • Separate Property Elections
    • The Indivisible Lease

For the complete publication please download the PDF below.

In order to comply with certain U.S. Treasury regulations, we are informing you that any U.S. federal tax advice that may be contained in this document is not intended or written to be used, and cannot be used, by any person for the purpose of (i) avoiding any tax penalties that may be imposed by the Internal Revenue Service or any other U.S. federal taxing authority or agency or (ii) promoting, marketing, or recommending to another party any transaction or matter addressed herein.

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