Join this session to learn how several important provisions of the Tax Cuts and Jobs Act applies to natural resource related activities.
Attendees will gain and understanding of:
• Section 163(j) ATI adjustments, including interest/depreciation/depletion included in COGS, and various partnership cost elections for mine exploration, oil and gas depletion, and section 59(e) items.
• FDII – computations for exported minerals including oil and gas and products therefrom
• Sequestration on AMT refunds - OMB
• Section 199A qualified income
• MLP’s conversion to corporation by FERC regulated entities
• Tariffs and other international issues
• State income taxes become more prominent
• Hedging issues
Vice President and Chief Tax Officer,
The Williams Companies, Inc. and Williams Partners L.P.