For people with a general knowledge of how the oil and gas industry works, but with little or no background in accounting or taxes, explains the US federal income tax treatment of the acquisition, exploration, development, production, and disposition of oil and gas properties. The rules relating to the transportation, refining, and marketing aspects are touched on only so far as they impact taxes on the production. Nice cartoons. No bibliography. Annotation copyright Book News, Inc. Portland, Or.
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