Oil & Gas Investment and tax incentives - Simplified
Oil and Gas Tax Incentives Oil and Gas is the largest industry in the US economy and contribute about 8% to US GDP and supports more than 10 millions direct and indirect jobs. In spite of new natural energy is in rise this industry is still looking strong enough for more years to come until another form of energy completely takes it over. There are many benefits of investing in this industry, to name a few High return on Investment opportunities Passive income treated as active income Diversification of income Tax Incentives I will focus on tax incentives in this article while touching other aspects in brief time to time. Tax rules are same for this industry and apply equally but there are few incentives provided by the tax laws that oil and gas business can take advantage of. Income from Oil and Gas can be active As per tax rule, if you do not participate in a business, that is considered as passive income. In case of income that will not make any difference, b...