Tax Advantages

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Tax Advantages of Joint Venture Partnerships

There are a number of significant tax advantages available to qualified investors who participate in Joint Venture Partnerships. Under the current law, for example, drilling expenses and production income currently both offer excellent tax advantages with most partners getting to write off 100% against their ordinary income.

 

Please consult with a tax professional for information specific to your tax situation before making any investment decisions.

 

Key tax benefits under the current law include:

 

 

 

 

 

*Tax considerations vary depending on your personal tax situation. Please consult your tax advisor before making any oil and gas investment decision. Note that current law is subject to change. Certain tax rules may limit a partner's ability to take tax deductions from a Gulf Coast Western Join Venture Partnership.

The information contained on this website is neither intended nor written to be used, and cannot be used, by any person for the purpose of avoiding tax penalties that may be imposed on such person. Each potential partner should seek advice based on the taxpayer's particular circumstances from an independent tax advisor that is experienced in oil and gas taxation matters.