CCH Enhances Oil and Gas Taxation Library with Time-saving Tools

(RIVERWOODS, ILL., June 3, 2009) – CCH, a Wolters Kluwer business and a leading provider of tax, accounting and audit information, software and services has added Multistate Oil and Gas Smart Charts™ and an Oil and Gas Compliance Developments tool to the popular Oil and Gas Taxation Library on CCH IntelliConnect™ and the CCH® Tax Research NetWork™. The Oil and Gas Taxation Library is a comprehensive resource that provides authoritative, up-to-date content and tax strategies to guide professionals through the complexities of oil and gas taxation issues (

“The Library is designed to make finding answers to oil and gas taxation questions fast and easy with complete information on one of the most complex areas of federal taxation,” said CCH Product Manager Cynthia Kaplan. “Now it’s even easier to find answers quickly and make sure you haven’t overlooked any important developments in this complex, ever-changing field.”

Smart Charts and Compliance Developments Save Research Time

The Multistate Smart Charts added to the Oil and Gas Taxation Library allow users to create custom charts by choosing one or more topics and one or more jurisdictions. The charts then summarize the law for each jurisdiction chosen, with links to underlying authority. Users can now create Smart Charts dealing with gas and oil-specific topics in the areas of property taxes, state business income tax, state sales and use tax and severance taxes, as well as miscellaneous taxes and fees such as conservation taxes.

“The Smart Charts save valuable research time by cutting straight to the answers people need, and they serve as a great means of communication that can be pasted into memos and reports,” Kaplan noted.

The Oil and Gas Compliance Developments tool provides quick access to Tax Day summaries applicable to the oil and gas industry for several tax types: state severance/production taxes; property taxes; federal and state income taxes; and state sales and use taxes. For each tax type, users can select compliance topics such as filing and reporting, exemptions, etc. They then see results organized by tax type, then topic, then jurisdiction. Each headline links out to a complete Tax Day story. All compliance developments specific to the oil and gas industry are covered: legislative and regulatory changes; cases and rulings; and administrative releases.

“It’s a way to make sure, in seconds, that you haven’t missed any important developments that can impact a business,” Kaplan said.

About the Oil and Gas Taxation Library

In addition to Multistate Smart Charts and the Oil and Gas Compliance Developments tool, the Oil and Gas Taxation Library provides detailed information through several industry-specific components, including:

  • Oil and Gas Tax Reporter – edited by industry experts, Patrick A. Hennessee, Ph.D., CPA, and Sean P. Hennessee, JD, MS Taxation, MBA;
  • Oil and Gas Tax Reporter Tax Trends Newsletter – tracks legislation, rulings, cases and other developments impacting the industry;
  • Internal Revenue Manual – Oil and Gas Handbook; and
  • ISPs/MSSPs – includes the IRS Audit Technique Guide for the Oil and Gas Industry.

Content in the Oil and Gas Tax Reporter is current and up-to-date, with strategies designed to help reduce tax obligations. Links connect users to related information including: topical index links to explanations; references to cited Code and Regulation Sections; and IRS Rulings and Court Decisions citations for further research

For More Information

For more information on the Oil and Gas Taxation Library, contact a CCH Account Representative at 1-888-CCH-REPS (1-888-224-7377), or visit

About CCH, a Wolters Kluwer business

CCH, a Wolters Kluwer business ( is a leading provider of tax, accounting and audit information, software and services. It has served tax, accounting and business professionals since 1913. Among its market-leading products are The ProSystem fx® Office, CCH® TeamMate, CorpSystem®, CCH® IntelliConnect™, Accounting Research Manager® and the U.S. Master Tax Guide®. CCH is based in Riverwoods, Ill.

Wolters Kluwer is a leading global information services and publishing company. The company provides products and services for professionals in the health, tax, accounting, corporate, financial services, legal, and regulatory sectors. Wolters Kluwer had 2008 annual revenues of €3.4 billion, employs approximately 20,000 people worldwide, and maintains operations in over 35 countries across Europe, North America, Asia Pacific, and Latin America. Wolters Kluwer is headquartered in Amsterdam, the Netherlands. Its shares are quoted on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Visit for information about our market positions, customers, brands, and organization.

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