Essays on the Taxation of Oil PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Essays on the Taxation of Oil PDF full book. Access full book title Essays on the Taxation of Oil by Marc Seiden Robinson. Download full books in PDF and EPUB format.
Author: Marc Seiden Robinson
Publisher:
ISBN:
Category : Gas industry
Languages : en
Pages : 109
Get Book Here
Book Description
Author: Marc Seiden Robinson
Publisher:
ISBN:
Category : Gas industry
Languages : en
Pages : 109
Get Book Here
Book Description
Author: Marc Seiden Robinson
Publisher:
ISBN:
Category : Natural gas
Languages : en
Pages : 254
Get Book Here
Book Description
Author: Nirupama S. Rao
Publisher:
ISBN:
Category :
Languages : en
Pages : 174
Get Book Here
Book Description
This dissertation consists of three essays that examine the impact of tax policy of firm behavior. The first chapter uses new well-level production data on California oil wells and after-tax producer prices to estimate how temporary taxes affect oil production decisions. Theory suggests that temporary taxes could lead producers to shut wells, and more generally that they create strong incentives for retiming extraction of the exhaustible resource to minimize tax burdens. The empirical estimates suggest small estimates of extensive responses to after-tax prices, meaning that wells are rarely shut, but they also suggest substantial retiming of production for operating wells. While the estimates vary with specifications, the elasticity of oil production with respect to the after-tax price is estimated to fall between 0.208 and 0.261. The estimates are used to calibrate a simple model of the efficiency cost of tax-induced distortions relative to the no-tax optimal extraction path. Calculations suggest that a 15 percent temporary excise tax on California oil producers reduces the present value of producer surplus by between one and five percent of the no-tax surplus or between 113 and 166 percent of the government revenue raised, depending on the original life of the well and the duration of the temporary tax. The second chapter examines the impact of the federal R&D tax credit on research spending during the 1981-1991 period using both publicly available data from 10-Ks and confidential data from federal corporate tax returns. The key advance on previous work is the use of an instrumental variables strategy based on tax law changes that addresses the potential simultaneity between R&D spending and its user cost. The results yield a range of estimates for the effect of tax incentives on R&D investment. Estimates using only publicly available data suggest that a ten percent tax subsidy for R&D yields on average between $3.5 (0.24) million and $10.7 (1.79) million in new R&D spending per firm. Estimates from IRS SOI data suggest that a ten percent reduction in the user cost would lead the average firm to increase qualified spending by $2.0 (0.39) million. Estimates from the much smaller merged sample suggest that qualified spending is responsive to the tax subsidy. A similar response in total spending is not statistically discernible in the merged sample. The inconsistency of estimates across datasets, instrument choice and specifications highlights the sensitivity of estimates of the tax-price elasticity of R&D spending. How a corporate tax reform will affect a firms reported earnings in the year of its enactment, and how the firm may choose to react to the tax reform, depend in part on the sign and magnitude of the firms net deferred tax position. The final chapter, written jointly with Jim Poterba and Jeri Seidman, compiles new disaggregated deferred tax position data for a sample of large U.S. firms between 1993 and 2004. These data are used to assess the size and composition of deferred tax assets and liabilities and their magnitudes relative to the book-tax income gap. We find that temporary differences account for a substantial share of the book-tax income gap. The key contributors to the increase in the book-tax gap include mark-to-market adjustments, property and valuation allowances. In interpreting the data we collect on deferred tax assets and liabilities in the context of the behavioral incentives surrounding a tax rate change, we find that a pre-announced reduction in the corporate tax rate would give a third of the firms in our sample to a strong incentive to accelerate income to the high-tax period, contrary to typical expectations that fail to take deferred tax positions into account.
Author: Mrs.Poonam Gupta
Publisher: International Monetary Fund
ISBN: 1451979754
Category : Business & Economics
Languages : en
Pages : 58
Get Book Here
Book Description
The domestic taxation of petroleum products is an important source of revenue in most countries. However, there is a wide variation of tax rates on petroleum products across countries, which cannot be explained by economic theory alone. This paper surveys different considerations advanced for taxing petroleum and presents petroleum tax rate data in 120 countries. It concludes that a significant reduction in the present extremely wide variation in petroleum prices and tax rates appears warranted.
Author: International Oil and Gas Educational Center (Southwestern Legal Foundation)
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Southwestern Legal Foundation
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Southwestern Legal Foundation
Publisher:
ISBN:
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Richard W. Hemingway
Publisher: West Academic Publishing
ISBN:
Category : Law
Languages : en
Pages : 842
Get Book Here
Book Description
This work covers the substantive law of oil and gas and federal income taxation of oil and gas transactions. The first three chapters examine interests and transactions in the mineral estate. The fourth chapter covers surface and subsurface issues. Chapters five through eight examine in detail the oil and gas lease. Chapter nine addresses the issue of transfers by the lessor and the lessee. Chapters 10 through 12 are devoted to oil and gas taxation. Students will see that this work gives them quick access to the law of oil and gas and the law of oil and gas taxation.
Author:
Publisher:
ISBN:
Category : Power resources
Languages : en
Pages : 794
Get Book Here
Book Description
Author: Xiaoyi Mu
Publisher:
ISBN: 9781911116295
Category : BUSINESS & ECONOMICS
Languages : en
Pages :
Get Book Here
Book Description
