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Texas Sales and Use Tax for the Oilfield Services Industry & Texas Sales and Use Tax for the High Tech Industry- 8/8/24 - Austin, TX

lat-seminars

Tax Courses for CPE credit
$199.00 USD
$199.00 USD
Sale State Society Sponsored Course
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August 8, 2024

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Texas Sales & Use Tax for the Oilfield Services Industry

CPE Credit Hours: 4.0

Program Level: Basic

Program Prerequisite: None

Advanced Preparation: None

Course Presenter: Jimmy Martens

Course Time: 8:30 am - 12:00 pm

Location: 816 Congress Austin, Texas

This course explains how the Texas sales & use tax and well servicing tax rules apply to the oilfield services industry at all stages of the drilling and completion processes. The course starts with determining an area of interest, then proceeds through the drilling and completion of a well. After discussing the rules for producing fields, we conclude with tax rules for workover, plugging, and abandonment. We also review the Comptroller’s recent change in taxing policies for oilfield services, including flowback, directional drilling, and others.

Learning Objectives

Learn how the taxing process applies to the oilfield service industry in these stages:

  • Seismic and Site Work
  • Drilling and Completion
  • Well-Servicing Issues
  • Operating Producing Fields


    • Time Topics Issues Covered
    8:30 Texas Tax Overview
  • Sales & Use Tax
  • Well Servicing Tax
    		•
    8:40 Texas Sales Tax Rules
  • Taxable Materials, Supplies & Equipment
  • Renting Oilfield Equipment
  • Operator Leases
  • Real v. Tangible Personal Property
  • Taxable Services
    		•
    9:30 Texas Well Servicing Tax
  • Testing, Cementing, Shooting, Fracturing & Acidizing
  • Interplay with Sales Tax
  • Non-Taxable Charges
    		•
    9:50 Taxing Oilfield Services
  • Determining an Area of Interest
  • Acquiring Oilfield Leases
  • Moving Equipment & Rigging Up
    		•
    10:00 Break 10 Minute Break
    10:10 Taxing Oilfield Services Cont.
  • Drilling the Well
  • Completing the Well
  • Operating the Producing Oilfield
  • Workover
  • Plugging & Abandoning the Well
    		•
    11:40 Texas Tax Overview
  • Surface v. Subsurface Equipment
  • Proppant & Fracking Chemicals
  • Utility Costs
  • Offshore Exemptions
    		•
    12:00 Lunch Provided for In-Person Attendees


    Texas Sales & Use Tax for the High Tech Industry

    CPE Credit Hours: 4.0

    Program Level: Basic

    Program Prerequisite: None

    Advanced Preparation: None

    Course Presenter: Lacy Leonard

    Course Time: 12:30 pm - 4:00 pm

    Location: 816 Congress Austin, Texas

    This course discusses how the Texas sales & use tax rules apply to various aspects of the high tech industry. We’ll address prominent issues arising in software: writing code, modifying existing software, licensing to multi-state users, live and remote technical support, and troubleshooting. We’ll cover the amendments to Texas’ taxing statutes and Comptroller’s rules, which define and impose sales tax obligations on out-of-state sellers by implementing the United States Supreme Court's economic nexus standard. We’ll review the taxability of numerous IT services, internet advertising, website creation and maintenance, cloud computing, and other tax-sensitive areas.

    Learning Objectives

  • Determine which high tech services are subject to sales tax or use tax
  • Identify key high tech sales and definitions
  • Learn about exemptions unique to the high tech industry
  • Learn which IT services are taxable
  • Understand when software work is taxable
  • Apply tax rules for video sales and streaming

    •  

    Time Topics Issues Covered
    12:30 Overview
  • Texas Sales & Use Tax
  • Texas Franchise Tax
  • Research Incentives
  • Economic Nexus
    		•
    1:15 Texas Sales Tax Rules
  • Introduction
  • Common Principles
  • Taxable Services: HighTech Related
  • Multi-State Issues
  • Exemptions
    		•
    2:15 Break 10 Minute Break
    2:25 Texas Sales & Use Tax: High Tech Industry Issues
  • Hardware Sales & Software Licensing
  • Software Development, Installation, Troubleshooting & Modification
  • Photographs, Music & Other Digital Products
  • Website Creation & Modification
  • Network Administration
  • Payment Processing & Other 3rd Party Services
  • Cloud Computing
  • Colocation Services
  • Internet Advertising: Banners, Plug-Ins, Etc.
  • Computer Security & Virus Services
  • Online Gaming
  • Research Equipment Exemption
  • Handling Audits
    		•




    • NASBA Statement

      LAT Seminars is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority over the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.learningmarket