Tax Free for 10 years! Can you think of a better bill for our area?
Someone running for congress or senate should suggest a 5-10 year moratorium on federal taxes on mineral bonuses and royalties for the State of louisiana. (or at least those parishes involved in the Haynesville play.
1. this would leave a huge amount of money in our depressed state/area
2. people would not mind paying slightly higher local state fees/taxes
3. it will keep us from calling for a federal bailout in april, when the majority of people have blown or spent their bonuses paying down high debt and don't have the money to pay taxes.
4. we do this for companies that have a 5-10 million dollar impact in our area, we should do it for families that are getting royalties because these familes will have a bigger impact. For instance, if all the persons getting royalites in the haynesville play formed one company, it would be the highest revenue generating company in our area hands down. We should get rid of the federal tax on bonuses and royalties for 5-10 years.
5. This would also help in the negotiation of bonuses and might even drive down the price paid to lease land.
Please help me fine tune this --post your comments and concerns and maybe a local landowner group will form and present this to the candidates.
1. this would leave a huge amount of money in our depressed state/area
2. people would not mind paying slightly higher local state fees/taxes
3. it will keep us from calling for a federal bailout in april, when the majority of people have blown or spent their bonuses paying down high debt and don't have the money to pay taxes.
4. we do this for companies that have a 5-10 million dollar impact in our area, we should do it for families that are getting royalties because these familes will have a bigger impact. For instance, if all the persons getting royalites in the haynesville play formed one company, it would be the highest revenue generating company in our area hands down. We should get rid of the federal tax on bonuses and royalties for 5-10 years.
5. This would also help in the negotiation of bonuses and might even drive down the price paid to lease land.
Please help me fine tune this --post your comments and concerns and maybe a local landowner group will form and present this to the candidates.
Views: 44
Replies to This Discussion
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Permalink Reply by reg on
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You have to remember everyone (Dems and Reps) will be receiving a royalty check.
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Permalink Reply by North LA on -
Sounds good but it would never work. You have to have a bill that would get at least 51% of representatives on board,26 senators, and the president. They wouldn't vote for something which would only help LA. If there was a bill for all the shale plays around the country it may work.
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Permalink Reply by jason on
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I read an article in a buisness mag about nat. gas drilling in the U.S. and it said that a bumper sticker is coming back that reads (please let the oil/gas boom come back GOD I promise I wont blow it this time)
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Permalink Reply by Stevew on
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I would love it because I have to pay one third off the top of my bonus. But, no Congress (rep or dem) would ever go for it.
I wonder how many people spent their bonus checks without putting aside 1/3 for taxes?? The Tax Man's gonna be mad at some folks.
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What your more likely to get is a resurrection of the windfall profits tax, and generally higher tax rates in general. This all depends, of course, upon who wins the presidential election. Make no mistake, in the eyes of the democrats, oil and gas is the enemy.
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Permalink Reply by sesport on
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How about getting the state to pay Louisiana citizens like the Alaskan gov't. does?
http://www.msnbc.msn.com/id/26564403
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Permalink Reply by SBossierGuy on
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C'mon people. While I agree with this idea, O&G companies would use this to their advanatage. If you were about to sign for a $30K bonus, you'll keep ~$20K after taxes. If they didn't tax it, do you really think the O&G company would still give you $30K? Nope. They'd give you $20K. You'd get the same amount and they'd get the $10K tax break.
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Are we forgetting about "disaster" relief? We've been hit coming and going, and indications are the next but one is going to be even worse for this area. If this is couched as a form of disaster relief that WON'T come out of already existing federal funds, it might have a chance. Also, adding something to give credits for re-building contributions and expenses in LA and TX might give this bill the impetus necessary to pass. After all, elections are coming up. . .and nobody wants to be seen as the guy who's kicking somebody that's down.
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