S.103 - Restore a Rational Tax Rate on Petroleum Production Act of 2007

A bill to amend the Internal Revenue Code of 1986 to provide that major oil and gas companies will not be eligible for the effective rate reductions enacted in 2004 for domestic manufacturers. view all titles (2)

All Bill Titles

  • Short: Restore a Rational Tax Rate on Petroleum Production Act of 2007 as introduced.
  • Official: A bill to amend the Internal Revenue Code of 1986 to provide that major oil and gas companies will not be eligible for the effective rate reductions enacted in 2004 for domestic manufacturers. as introduced.

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01/04/07
 
 
 
 
 
 
 

Official Summary

Restore a Rational Tax Rate on Petroleum Production Act of 2007 - Amends the Internal Revenue Code to deny a tax deduction in the case of any major integrated oil company for income attributable to the domestic production, refining, processing, transportation, or distribution of oil, natura

Official Summary

Restore a Rational Tax Rate on Petroleum Production Act of 2007 - Amends the Internal Revenue Code to deny a tax deduction in the case of any major integrated oil company for income attributable to the domestic production, refining, processing, transportation, or distribution of oil, natural gas, or any primary product thereof.

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