Oil and Gas Tax Services

OIL AND GAS TAX REFUNDS AND EXEMPTIONS

Invoke Tax Partners is uniquely qualified to provide comprehensive tax services for oil and gas companies nationwide. Successfully navigating complex tax laws during drilling, completion, and production can have a substantial financial impact on oil and gas companies’ bottom lines. It is imperative that oil and gas companies are taking advantage of all available tax refunds and exemptions due to regular fluctuations in the market value of oil and gas and a notable shift in government regulation and policies. Our seasoned oil and gas tax consultants possess the requisite mix of specialized knowledge, understanding of each states’ tax laws and regulations, and aggressiveness necessary to maximize tax savings for oil and gas companies in all phases of the drilling, production, and sales processes.

For over 20 years, our sales and use tax and severance tax practices have specialized in recovering overpaid taxes, reducing tax liabilities and minimizing future state tax exposure by implementing best practices and technology for oil and gas companies across the nation. As one of our largest and most complex service industries, our expert tax consultants possess the experience and relationships necessary to achieve only the best results for the top oil and gas production companies of this day and age. Contact us today via our contact form to speak with an expert on areas where you are likely to be able to save millions of dollars on tax assessments and obtain optimal tax refunds.

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Oil and Gas Tax Partnership

Recover Overpaid Taxes Image
Recover Overpaid Taxes

Reduce Tax Liabilities Image
Reduce Tax Liabilities

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Implement Best Practices

Sales and Use Tax Services for Oil and Gas Companies

Our sales and use tax practice has veteran knowledge and significant history in maximizing sales and use tax savings for oil and gas companies in key production states. Sales and use tax laws are constantly changing, and states are becoming more aggressive with an increase in audit frequency and larger tax assessments. These changes, paired with the complexities of the oil and gas industry, result in frequent overpayment and compliance errors among the nation’s top producers.

The oil and gas industry is presented with many specific challenges when it comes to sales and use taxes. With the abundance of changes the industry has faced in the last few years, we are regularly finding overpaid sales taxes on equipment and services. State-to-state differences and complexities created by multi-state providers of oil and gas services put clients at risk for tax rate and jurisdictional issues and subsequent overpayments. Because each phase of the oil and gas production process has sales and use tax implications, it is imperative that oil and gas companies contact a sales tax consulting team, especially when under audit.

Our sales and use tax consultants have a long history of recovering overpaid taxes, reducing tax liabilities, and minimizing future state and local tax exposure. Our proprietary sales tax identification process allows us to guarantee a review of 100% of the scanned transactions provided. This process allows us to ensure that no savings opportunities are missed and has provided a 100% success rate in locating additional tax savings. Oil and gas companies in particular benefit from this process due to the high volume of taxing opportunities, likely influencing their bottom lines by way of significant tax refunds. Learn more about our results or contact our sales and use tax consultants below to ensure no savings opportunities are missed.

View Our Results – Sales Tax Audit Defense

By the Numbers

99.26%

Tax assessment reduction achieved by Invoke at audit level

$20.77M

Net savings to date, including tax, penalty, and interest

$1.26M

Savings currently in settlement

Severance Tax Services for Oil and Gas Companies

Oil and gas companies are also subject to their own unique set of tax laws pertaining to the extraction of natural resources from the ground. Severance tax is calculated based on value and/or volume of production.

Invoke’s team of expert severance tax consultants work to identify a variety of severance tax incentives, exemptions, and deductions with the goal of reducing overall tax liabilities for our oil and gas clients. Our severance tax review process provides an in-depth analysis of the tax implications placed on drilling wells and the extraction of natural resources. Beginning with a complete analysis of the entities and locations involved in the review, our severance tax consultants will identify refunds and credits to ensure maximum tax savings while performing overpayment reviews and severance tax audits.

Our proprietary severance tax management process supports oil and gas companies through the complete audit and recovery cycle. We work directly with state taxing authorities until verification of both refund claims and audit reduction savings are achieved and will continue to support your needs as your single-source tax provider. Contact our severance tax consultants today if you are under audit or would like Invoke Tax Partners to confirm your oil and gas company is not overpaying on severance taxes.

National Director of Sales & Use and Severance Tax

Scott Schwertner

National Director of Sales & Use and Severance Tax

Our Oil and Gas Practice Leader

Scott Schwertner leads the Sales & Use Tax Team for Invoke. Scott has 20 years of Sales and Use Tax experience and has worked across the United States for some of the largest manufacturing, chemical and oil and gas companies. He has extensive experience completing refund projects, audits and managed audits. Scott has spent his entire career providing professional and ethical Sales and Use Tax saving services, and his commitment to clients has created lasting business and personal relationships over the past two decades. Scott holds a BBA in Accounting from Texas A&M University.