Ryan, a global tax services firm, has acquired EnerTax Consultants LP, a severance tax consulting based in Houston, Texas. This acquisition adds a team of tax specialists with experience reducing severance tax liabilities for large oil and gas exploration and production companies.
Severance tax is incurred when natural resources are extracted ("severed") from the earth within a taxing jurisdiction. While crude oil and natural gas comprise the majority of severance tax collections in most jurisdictions, other resources such as coal, timber, and metals (including uranium) are often subject to severance tax as well.
"This strategic acquisition adds substantial capabilities to our Severance Tax practice to meet the increasing demand for Ryan's tax services in the oil and gas industry," said G. Brint Ryan, chairman and CEO of Ryan.
Matthew Travis, Sloan Smalley, and Jonathon Travis, partners of EnerTax Consultants, will join Ryan as principals. Travis, a former Ryan employee, will also assume the role of Ryan Severance Tax Practice Leader. He has more than 14 years of state tax experience with an emphasis on severance tax, well incentives, and tax return compliance.