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10 159 Producer Report of Natural Gas Tax  Form

10 159 Producer Report of Natural Gas Tax Form

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some people say the oil and natural gas industry benefits from taxpayer subsidies well nothing could be further from the truth rather the industry enjoys deductions and various cost recovery mechanisms just like any other industry does deductions are fundamental to our tax code and all industries are allowed to take deductions for example if you own a bakery you purchase sugar eggs flour milk all of these things to make your products you also employ individuals your bakers and your cupcake makers you know the various employees of your industry you're able to deduct not only the costs of the goods that you produce to run your business you're also able to recover the costs of the salaries of these employees now what you do with these deductions and cost recoveries are you plow them right back into your industry and high paying wages or you reinvest them into the economy the exact same is true with the oil and natural gas industry currently all industries who use the section 199 deduction

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