Trinity Petroleum Consultants was founded in 1984 for the purpose of maximizing tax refunds for oil and gas producers. Its formation has brought together a group of energy tax specializst whose combined knowledge of finance and operations is unsurpassed.

Trinity's expertise is focused specifically in the areas of state severance taxes. Central to its business is one of the most advanced sets of tax recovery software programs currently utilized. This state-of-the-art technology allows Trinity to analyze vast amounts of historical information downloaded directly from client and government data bases. Trinity's consultants use this technology to effectively isolate areas where taxes have been overpaid thus generating the largest refunds possible.

Typically, a producer's in-house staff and national accounting firms have neither the specialized software nor the time needed to donduct such a thorough analysis. That's why Trinity can usually recover more taxes than a client can obtain on its own or elsewhere. Trinity has even been able to extrapolate data from incomplete records, saving dollars which would have eventually been forfeited under statutes of limitations.

Because most work is performed from existing data, Trinity's tax recovery projects involve minimal interaction with client personnel. There is virtually no disruption of day-to-day operations.

All tax recovery projects are handled on a contingent basis. Trinity bears all expenses and the client is at no financial risk. Fees are based only on refunds or credits actually received as a result of Trinity's efforts. Where there is no recovery, there is no fee. Auditors from the state government will give final approval on tax refund claims. Trinity's fee is not due until the lcient has received its refund check or credit, usually within three to six months under ideal circumstances.

Through Trinity's dynamic approach in defining state policies and procedures, natural gas producers can now significantly reduce past severance tax liability. For example, many fields operational and district costs which, heretofore, have been classified as deductible marketing costs. Producers are entitled to tax refunds based on these and other recomputations throughout previous years -- up to 48 months depending on the state's statute of limitations.

Working within the framework of state laws and regulations, Trinity maximizes the potential for severance tax refunds. Its consultants will reallocate costs for each well the producer owns to yield the highest possible deductions. They will examine all client sales contracts for clauses that may reduce the taxable value of its natural gas. And they will reconcile cash receipts to values reported looking for indications of tax overpayments.

Trinity's consultants will recompute past severance taxes and revalue lease use gas based on all final adjustments. This process generally results in a substantial refund for the client.

At the core of Trinity's program is sophisticated tax recovery software developed specifically for natural gas producers. This proprietary software, now in it's 6th generation, has the capacity to integrate vast amounts of complex historical data and information needed for an accurate analysis. It is this unique ability which allows Trinity to generate maximum tax refunds.

Prior to the onset of the project, Trinity will provide a full explanation of its software program and information-gathering approach. At the conclusion, it will assist the client in implementing in-house procedures and programming needed to minimize future tax liabilities. And, on request, it can upload directly to the client's data bases any accounting entries necessary to book the refund.

In today's increasingly competitive business environment, the energy producer's need for an effective tax recover program is more important than ever before. Those who take an aggressive approach in reclaiming every dollar to which they are entitled will profit immensely. Those who don't will lose these dollars to the government simply because they do not have the technology needed to find them. Now, through Trinity's advanced tax recovery programs, oil and gas producers can recover the overpaid taxes due them by law.

Trinity believes the potential for tax recovery exists for every client. Its consultants have even been able to procure large refunds in cases where the producer was sure all possibilities had been explored.

Trinity's software systems are totally integrated to give its consultants simultaneous access to the historical data required for a throrough analysis. State-of-the-art disk systems store the voluminous amounts of information generated throughout each tax recovery project. Summation reports give the client a detailed breakdown by lease of all refunded moneys.

At the conclusion of the project, Trinity can assist in determining an accepted annual marketing cost rate that can be used as a basis for the following year's deductions. And it will leave behind vital information the client will need to recover taxes on its own in future years.

Trinity's consultants stress the importance of filing for refunds immediately. The statutes of limitations for severance taxes varries. And time may be running out. Without prompt action, an oil and gas producer could lose the opportunity to recover a substantial portion of its overpaid taxes.

To find out more about its tax recover program, contact Trinity Petroleum Consultants today.