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A Primer on Selected Acquisition Income Tax Issues For the Non-Tax Lawyer

Bruce N. Lemons, Oil and Gas Acquisitions (1995)

The acquisition of oil and gas properties involves income tax issues germane for both the purchaser and the seller. Many times, income tax issues are a minor part of the calculus of acquiring or transferring a property; other times they are the central feature of the planning involved. In all cases, however, income tax issues will play a role in the acquisition or dispostion of the property.

This Paper briefly outlines some of the important income tax issues that arise in connection with the transfer of oil and gas properties. This Paper does not attempt to discuss all of the income tax issues that may arise on the transfer of oil and gas properties.