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The Final Trump Tax Bill: A Clear Net Positive For U.S. Oil And Gas

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So, for the oil and natural gas industry, what is the impact of the new tax bill just passed by congress?  As for most other American businesses, the bill is a mixed bag of lowered tax rates and limited deductions, but at the end of the day, it appears to be a net positive.

Here’s why:

  • Tax Rates are lowered – This one’s rather obvious.  Lowering the corporate rate from 35% to 21%, and lowering all personal marginal rates will clearly benefit everyone involved in the oil and gas industry from a tax standpoint.  Not much more needs to be said there.
  • The option to expense Intangible Drilling Costs is retained – ….

 

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Written by David Blackmon for Forbes.com

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