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Texas Oil & Gas Severance Tax Refunds

It is becoming increasingly more difficult for oil and gas companies to understand the every changing Texas severance tax regulations. Texas law provides several opportunities for oil and gas companies to obtain a severance tax refund most oil and gas companies don't even know they are eligible to get a severance tax refund. Small Oil and gas operators typically don't have the internal resources available to dedicate to learning about and obtaining these refunds. On the 20th of each month another month of severance tax refunds expire as the State of Texas has a four year statute of limitations on severance tax refunds.

Besides losing the opportunity to claim their severance tax refunds oil and gas operators now face the possibility of class action lawsuits from owners with an economic interest in their wells.  There as a been a string of high profile class action lawsuits filed against various oil and gas companies.

Since 2002 Petroleum Accounting Consultants has been obtaining severance tax refunds for oil and gas operators during that Petroleum Accounting Consultants has recovered over $37 million in severance tax refunds. Our severance tax consultants are continually trained and up-dated on all the new severance tax developments.

While working with well over 100 oil and gas operators, over the past ten years, we have developed a methodology for our reviews that limits the time we need from internal staff to about one to two hours. Our clients' are always amazed at the return the receive on their investment of a couple of hours.

Since we perform our oil and gas severance tax reviews on a contingency fee basis oil and gas operators have nothing to lose to find out if their wells qualify for a refund.  For more information on how Petroleum Accounting Consultants can help you with obtaining your severance tax refunds please fill out the form below.

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Testimonials

"We engaged Petroleum Accounting Consultants, PLLC to review the wells we operate for gross production tax refunds. Petroleum Accounting Consultants, PLLC performed all the work necessary to determine eligibility. All we had to do was sign the forms submitted to the Corporation Commission and Tax Commission. As a result of Petroleum Accounting Consultants, PLLC's work we received substantial refunds of gross production taxes. Petroleum Accounting Consultants, PLLC is continuing to review our workovers and file refund claims for us. We are extremely pleased with their work and professional attitude."

- Phoenix Oil & Gas, Inc. - Jack Nogalski

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Severance Taxes

An cost effective alternative to hiring your own accounting staff to complete your severance tax reporting requirements is to hire Petroleum Accounting Consultants, PLLC.

Our consultants can complete your severance tax returns and save you money on salary expense and payroll tax expense. More importantly our consultants are familiar with the various severance tax incentives offered by oil and gas producing states and can take advantage of them, which will save you money on your severance taxes.

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