No analysis of an oil, natural gas, or power trading commercial transaction is complete without a review of the transaction's tax implications. Sutherland energy and tax attorneys are well-versed in evaluating the tax consequences of petroleum, gas and power purchases, and sales, exchanges and importation of crude oil and refined products. We advise energy clients on the potential for federal, state and local excise, sales and use, franchise, property, environmental, spill, business and occupation, gross receipts and utility tax liabilities attendant to wholesale and retail transactions, processing and tolling arrangements, importation and ex-duty sales and marketing ventures.
Sutherland's energy tax practice involves assisting U.S. companies in obtaining licenses, bonds and registrations when commencing new business operations, assessing the transaction tax consequences of financing and maintaining inventory and acquiring petroleum, natural gas and power assets, establishing compliance programs, and handling tax-related disputes between private parties and before the Internal Revenue Service and state tax agencies. We represent clients in audits, enforcement proceedings, litigation and criminal investigations and have worked closely with the Internal Revenue Service, the Committee on Joint Taxation and Senate and House tax writing committees in developing laws and regulations in the excise tax area.
Our unique experience enables us to efficiently counsel our clients at every stage of distribution regarding the transaction tax consequences of marketing gasoline, diesel, fuel oil, jet fuel and other refined products and in the context of commercial transactions and enforcement and deficiency proceedings.
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