States impose a variety of taxes on energy companies, including franchise taxes, corporate income taxes, excise taxes, property taxes, sales and use taxes, and severance taxes.  Many states provide special tax credits and incentives for energy companies, but do not always provide clear guidance on how state tax statutes and regulations apply to energy companies.

Please join us for a lively discussion covering:

  • How to determine if your company has state corporate income tax or sales tax nexus based on energy commodity trading.
  • How to apportion and allocate your receipts from product sales and services among states.
  • State tax issues for energy companies operating as partnerships and S corporations.
  • Important state income tax controversies relevant to energy companies.
  • Net operating loses – how to manage reporting, limitations, carry forward and utilization.
  • State R&D credits.
  • Severance tax incentives in Oklahoma and Texas.

For additional information, please contact Shilpa Patel at spatel@mayerbrown.com or +1 312 701 8487.