News & Analysis as of

Oil & Gas Tax Planning

Vinson & Elkins LLP

[CLE Hybrid Event] Making Sense of Methane for the Oil and Gas Sector: EPA’s New Methane Tax, Operating Regulations, and GHG...

Vinson & Elkins LLP on

The Environmental Protection Agency (EPA) has released proposed and final rules that will regulate methane emissions from oil and gas operations, implement a methane emissions tax, and change greenhouse gas reporting...more

Stoel Rives - Mineral Law

Tax Actions by the Alaska Legislature in 2022

In my most recent column for State Tax Notes, I look at several bills that did and didn’t pass in the latest session of the Alaska State Legislature, which adjourned in May, and at what may be on the horizon....more

Bennett Jones LLP

Alberta Proclaims New Legislation to Address Municipal Tax Arrears

Bennett Jones LLP on

On December 8, 2021, Alberta proclaimed in force Bill 77, the Municipal Government (Restoring Tax Accountability) Amendment Act, 2021 (the Amending Act), which is intended to strengthen municipal budgets following reports by...more

Mayer Brown

Recent Legislative Proposals Could Drastically Change US Energy Taxation

Mayer Brown on

Over the past number of weeks, a variety of legislative proposals, from both sides of the aisle, have been released that, if enacted, could drastically impact the US energy industry and, in many cases, the taxation of energy...more

Mayer Brown

Anti-Renewables Legislative Proposals in Texas

Mayer Brown on

There are several state legislative proposals in Texas that could have adverse impacts on the development and operation of renewable energy projects in Texas....more

Mayer Brown

Energy Tax Implications of New Infrastructure and Tax Plans

Mayer Brown on

The American Jobs Plan - On March 31, 2021, the Biden administration released the American Jobs Plan (the “Infrastructure Plan”), which is a proposal that, if ultimately enacted, aims to modernize outdated infrastructure,...more

Mayer Brown

Final Like-Kind Exchange Regulations Contain Much-Needed Clarity for Natural Resource-Related Assets

Mayer Brown on

In December of 2020, the US Internal Revenue Service (the “IRS”) issued final regulations (T.D. 9935) (the “Final Regulations”) on like-kind exchanges under Section 1031 of the Internal Revenue Code of 1986, as amended. The...more

Mayer Brown

Potential Energy Tax Changes under a Biden Administration

Mayer Brown on

As the incoming Biden Administration takes shape, energy companies will be monitoring potential tax policy initiatives, especially those that could impact the energy sector. Companies throughout the sector could be treated...more

Skadden, Arps, Slate, Meagher & Flom LLP

Oil Price War and Challenging Debt Markets: Tax Risks and Strategies for Upstream and Midstream Companies

Many upstream and midstream companies are grappling with the prospect of severe liquidity constraints due to the rapid deterioration of both the commodity markets and the debt capital markets. While upstream companies have...more

Foley & Lardner LLP

IRS Releases Initial Guidance Regarding Section 45Q Carbon Sequestration Tax Credit

Foley & Lardner LLP on

On February 20, 2020, the IRS issued its first round of guidance regarding the carbon sequestration tax credit found in Section 45Q (the “Section 45Q Credit”) of the Internal Revenue Code of 1986 (as amended, the “Code”) in...more

Littler

Hurricane Maria's Aftermath, Part II: Puerto Rico Government Provides Various Exemptions and Extensions to Multiple Upcoming...

Littler on

In the aftermath of Hurricane Maria's catastrophic impact on Puerto Rico, in order to assist in rebuilding and recovery, Puerto Rico’s governor and several agencies have issued multiple exemptions to previously established...more

Latham & Watkins LLP

Restructuring Oil and Gas Partnership Debt? Tax Planning Is Key

Latham & Watkins LLP on

Tax partnerships, including MLPs, seeking to restructure debt face peril and possibility during challenging times. With the lowest oil prices in more than a decade and the equity markets effectively closed to them, oil...more

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