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Louisiana Tax Commission 2011 Pipelines Regulations

Presentation to Louisiana Tax Commission outlining proposed changes to Chapter 13 rules for local assessed pipelines by Louisiana Oil and Gas Associations. Topics include replacement cost, depreciation, and obsolescence considerations.

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Louisiana Tax Commission 2011 Pipelines Regulations

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  1. Presentation to the Louisiana Tax Commission2011 Rules and Regulations Chapter 13 – Pipelines (local assessed)byLouisiana Oil and Gas Association andLouisiana Mid-Continent Oil and Gas AssociationJune 22, 2010 Information included in this presentation is the same as submitted in writing June 4, 2010 to the Louisiana Tax Commission. This presentation is prepared only to facilitate the verbal presentation on June 22, 2010 as indicated in the LTC Docket Number RR-2011, Notice of Hearing.

  2. LOGA/LMOGA Proposal for Cost • Replacement Cost – Agree with replacement cost onshore schedule proposed by Pritchard & Abbott (for LAA). • 15% of Cost Column – Delete this column. §1305 explains the appraisal process. The “15% of Cost” column is not applicable as 15% should be applied to appraised value at the end of the appraisal process.

  3. LOGA / LMOGA Proposal for Depreciation No change from 2010 rules and regulations.

  4. LOGA / LMOGA Proposal for Obsolescence Revise §1305.F. as follows: Assessment will be based on fair market value. Functional and/or economic obsolescence shall be considered in the analysis of fair market value based on the most reliable information available to the assessor, including as substantiated by the taxpayer in writing. Consistent with Louisiana R.S. 47:1957, the assessor may request additional documentation.

  5. Thank you!

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