2009 A Primer for Natural Gas Taxation Issues Applicable to NYS Landowners
Introduces tax practitioners to the income tax rules pertaining to landowners involved in leasing for natural gas drilling in NYS.
Presented in 2009
DATES & LOCATIONS:
August 24, 2009, Batavia, NY at the Batavia Party House
August 26, 2009, Liberty, NY at Cornell Cooperative Extension, Sullivan County
August 27, 2009, Owego, NY at the Owego Treadway Inn
This seminar will introduce tax practitioners to the income tax rules pertaining to landowners involved in leasing for natural gas drilling in New York State. It will provide a comprehensive background on the exploration, drilling and production processes, lease arrangements, and the current leasing situation for New York State landowners. Specific coverage will include lease payments and pertinent lease clauses, depletion rules, royalty and working interests, miscellaneous income items, forced pooling, Federal income tax legislation and regulations, application of AMT, special NYS tax issues, industry terminology, available research resources, and suggested practices for your firm.
Speakers: James E. Leonard, CPA, PLLC, Endicott NY; Joseph A. Bennett, CPA, Senior Extension Associate, Cornell.