Two major decisions were made in Colorado state courts in the past 12 months regarding Colorado tax codes that affect many in the oil and gas industry in the state.

The first was made in BP America Co. v. Colorado Dept. of Revenue (Nov. 2013) regarding state severance tax. In this case, the court considered the computation of the taxable value of the oil and gas extracted in Colorado as subjected to state severance tax, reports Hein & Associates. As severance tax is one of the largest single expenses for an oil and gas company, minor mod...


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