Every oil and gas operator pays severance taxes, but some pay more than they have to. Don’t let your company be in that group. RTC has the experience and expertise to ensure operators are paying the absolute minimum amount of tax. Our services are customized to our operators—there are no long-term contracts and we do not sell clients products they don’t need. Our goal is to maximize refund potential while minimizing client involvement.
Different states have different severance tax requirements—and incentives—and it can be difficult to know each detail and ensure you’re minimizing the amount of tax you pay. For severance tax, there are deductions and exemptions that apply, as well as tax rate applications that are often overlooked or missed by the producer. RTC understands that operators are focused on the production aspect of their business and don’t have the time or expertise to navigate all of the varied tax accounting processes. Managing severance taxes in house costs operators time and money.
With our help, operators can stop wondering if they’re paying too much in taxes.
Our Approach
- Initial conversation.
- Research Tax Consultants provides specialized consultation and services to operators based on their needs. The first step is to understand your goals and how we can help.
- We look at all potential records - production, tax, general ledger, and others.
- Our team will dig deep into your records to not only ensure you are getting basic incentives and credits but to see every detail and pursue every available incentive. Because of our specialized customer service, we will find incentives other firms miss.
- Everything else as needed.
- We are not content to just analyze your data from our office. Research Tax Consultants minimizes client involvement, so we take all the steps necessary-whether that be visit the field sites, working with the tax agencies, or anything else required to achieve success.
Services:
- Incentive identification and certification services
- Post production cost deductions recalculation services
- Severance tax process initiatives
- Tax reimbursement contract reviews
- Adjustment notice consulting services
- High Cost Gas
- Inactive Wells
- Unreported Gas Marketing Deductions
- Low Producing & Marginal Wells
- High Cost Gas to Low Producing Well Adjustments
- Tax Incentives on Production Enhancement Projects
Research Tax Consultants will pursue all available production incentives to ensure operators are paying the minimum amount of tax.