Now Bigger In Texas: Oil And Gas Refund Opportunities

Law360, New York (April 16, 2012, 1:37 PM EDT) -- In a recent ruling from the bench in Southwest Royalties Inc. v. Combs, Cause D-1-GNU-09-004284 (Travis County 250th Dist. Ct.), Judge John Dietz overturned longstanding Texas comptroller policy and expanded the sale and use tax manufacturing exemption to include certain items used to extract oil and gas from wells.

If upheld on appeal, the April 12, 2012, ruling will create significant refund opportunities and prospective tax savings for the oil and gas industry. Taxpayers having potential refunds as a result of this case should consider filing...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.