Oil and Gas Business Licensing
The Oil and Gas industry is heavily regulated by both federal and state authorities. Each authority has unique licensing laws and application requirements. In most jurisdictions, oil and gas related licenses are required for each and every player in the industry, from manufacturers, distributors, and retailers to importers, exporters, and transporters. Given our experience regarding specific jurisdictional requirements, LicenseLogix will streamline the process of determining and obtaining the proper licenses for your business. We provide comprehensive research on your licensing requirements and prepare error-free application packets, minimizing time-consuming and costly delays.
At the federal level, the Oil and Gas industry is regulated by the U.S. Environmental Protection Agency (“EPA”). Registration with the EPA and/or the IRS is required for many businesses in this industry. Each state, generally through its Department of Revenue, also requires these businesses to register or obtain a license. These oil and gas industry registrations/license applications tend to be extremely tedious and require varying fees as well as extensive supporting documentation. More often than not, this includes a surety bond and/or financial documents. Furthermore, in order to remain in compliance with industry regulations, each business is required to maintain its license by filing monthly tax returns and, in many states, filing either annual or biennial renewals.
Ramifications of Non-Compliance
An Oil and Gas business operating without a license (or with an expired license) may be subject to various penalties, including harsh fines or cease-and-desist orders.
How we help your business:
- We stay up-to-date with changing oil and gas licensing requirements and forms so you can focus on the job at hand.
- We prepare oil and gas license application packets efficiently and correctly, allowing your in-house staff to save valuable time struggling to obtain the proper licenses.
- Once your oil and gas license has been issued, we ensure that you remain compliant with all licensing laws.
More Resources:- The National Association of Oil and Energy Service Professionals
- American Petroleum Institute
- International Fuel Tax Association
CHOOSE A STATE BELOW FOR SPECIFIC BUSINESS LICENSING INFORMATION:
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