The Final Trump Tax Bill: A Clear Net Positive For U.S. Oil And Gas
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.
- 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 – ….
Written by David Blackmon for Forbes.com