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Ohio Sales and Use Tax Exemptions for the Oil and Gas Industry

Ohio House Bill (“H.B.”) 430 clarifies the Ohio sales and use tax exemption language for the oil and gas industry. The law becomes effective

Pennsylvania Impact Fee Distributions Top $209 Million in 2017

The Pennsylvania Public Utility Commission (PUC) recently published detailed information regarding the 2017 distribution of Act 13 impact fees levied on

Pennsylvania State Budget Approved for $32.7 Billion, No Severance Tax Included

On June 22, Pennsylvania Governor Tom Wolf signed into law a $32.7 billion state budget for fiscal year 2019. Noted as “bipartisan,” this is

IRS Announces 2017 Marginal Well Credit for Marginally Producing Natural Gas Properties

Natural gas well owners holding an operating interest in a qualified marginal well during 2017 are eligible to claim a $0.51 credit per qualified MCF,
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Pennsylvania Department of Environmental Protection Proposes 250% Permit Fee Increase for Unconventional Gas Wells

The Pennsylvania Department of Environmental Protection (DEP) has proposed a 250% permit fee increase for all unconventional gas wells. This would increase

Pennsylvania Public Utilities Commission Increases Impact Fees for 2017

For 2017, Pennsylvania’s Independent Fiscal Office (IFO) is projecting the impact fee to be approximately $219.4 million, the third highest in the

ASU 2018-01 Lessens the Blow of Accounting for Land Easements Under New Lease Requirements

Back in February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016-02, Leases (Topic 842), to increase

Pa. Legislators Hope to Cut Permit Red Tape, Smooth Path for Drillers

The Pennsylvania Department of Environmental Protection (DEP) claims it will render a decision on a drilling permit for new well within 45 days of application.
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Rewind: Schneider Downs Energy and Natural Resources Industry Group 2017 Recap

Schneider Downs’ Energy and Natural Resources Industry Group provides specialized financial advice and services to our clients in the oil and gas,

Tax Reform: A New Deduction for Individuals - 20% Qualified Business Income Deduction

The Tax Cuts and Jobs Act provided non-corporate taxpayers (e.g., S-corporations, partnerships, limited liability companies, and sole proprietorships)
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