Series 7 - General Securities Representative Exam
Oil and gas partnerships (DPPs) have certain tax advantages. Which of the following is NOT a tax advantage of an oil and gas DPP?
Intangible Drilling CostsA
Tangible Drilling CostsB
Royalty Tax DeductionD
Royalty tax deduction is not a tax advantage of an oil and gas DPP. Depletion, Intangible Drilling Costs, Tangible Drilling Costs ARE tax advantage