Natural resource reviews are a very long and complex process. Royalty Management Systems streamlines this process and analyzes all volumes, revenue, expenses, pricing, taxes, and other revenue generating income from your oil, gas, and other hydrocarbon income. This creates a large database of information expanding with each additional client. With this data and data from other government agencies, Royalty Managements Systems' clients know that they are getting paid properly for their minerals.
While doing this Royalty Management Systems keeps and maintains all client leases, check stubs, and mapping safe and secure for current and future use.
The Internal Revenue Service allows for oil and gas owners a depletion allowance for anyone who has an economic interest in an oil and gas lease. There are two ways to calculate this depletion allowance. One is through cost depletion and the other is through percentage depletion. In order to take these allowances the Internal Revenue Service requires each owner to keep records on a property by property basis. Royalty Management Systems generates a yearly report calculating the best allowance for clients to ensure tax reporting compliance is maintained properly.