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Severance Tax and Royalty Services

Master oil and gas compliance rules to unlock value

Severance Tax and Royalty Services

Simplify severance and royalty taxes

Some of the largest taxes borne by the upstream industry are crude oil and natural gas production taxes, also known as severance taxes. Maintaining severance taxes for resource extraction can be challenging for oil and gas operators working in multiple states as every state has its own specific requirements. In addition, operators producing on federal or state leases may need to pay royalties.

KPMG Severance Tax and Royalty Services professionals assist with maintaining compliance across multiple states and jurisdictions. We can help you understand the complexity of severance taxes and royalties in order to increase value with key incentives and deductions.

Key severance tax services

KPMG helps upstream oil and gas operators navigate complex tax and royalty compliance issues. We aim to make compliance serve two purposes: delivering efficiency and uncovering insights.

1

consult

Consulting

We can assist with the reduction of severance taxes by conducting incentive and marketing cost studies, designing tax-efficient organizational structures, and identifying tax efficiencies.

2

comply

Compliance

Your company can cosource or fully outsource your severance tax compliance process to our experienced specialists. We use proprietary technology to help identify incentives that may reduce your taxes.

3

recover

Recovery

Complex severance tax compliance often leads to missed incentives and deductions. Our detailed recovery process can help you recover past overpayments within statutory limits and reduce future tax liability.

4

tech

Technology

We use advanced data analytics and machine learning to perform real-time deduction analysis, incentive qualification, and benchmarking to enhance compliance and find new opportunities.

5

Royalty services

We offer services in asset reviews, transportation and processing studies, and royalty recovery reviews to uncover savings. We are also able to assist in audit defense and data mining reviews.

Drill down on compliance

Data-driven approach

Data-driven approach

We use our own data and analytics tools to study each client’s production and tax history. We also apply industry and tax data to uncover savings and target new opportunities.

Compare and contrast

Compare and contrast

To set benchmarks and reveal insights, we work with each client to compare their production and tax data with those of other similarly situated upstream operators.

Precise asset valuation

Precise asset valuation

Many states require a valuation of purchased assets before allowing marketing cost deductions. KPMG teams include tangible asset valuation specialists with deep industry experience.

Industry-specific knowledge

Industry-specific knowledge

KPMG has an in-depth knowledge of oil and gas tax laws and procedures. We stay up to date on changing policies and have relationships with the agencies that administer them.

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Dive into our thinking:

Read our severance tax and royalties brochure

If you need guidance on understanding the complexities of severance taxes and royalties, learn how KPMG can help.

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Meet our team

Brian is a managing director in our State and Local Tax practice who specializes in the indirect tax requirements of KPMG oil and gas clients.

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Brian Culvey
Managing Director, State and Local Tax, KPMG US
Read bio
Image of Brian Culvey
Brian Culvey
Managing Director, State and Local Tax, KPMG US
Read bio

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Some or all of the services described herein may not be permissible for KPMG audit clients and their affiliates or related entities.

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. KPMG LLP does not provide legal services.

The information contained herein is not intended to be “written advice concerning one or more Federal tax matters” subject to the requirements of section 10.37(a)(2) of Treasury Department Circular 230.

© 2024 KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

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