Flat 25% or Less One-time Tax Rate on Lease Signing Bonus

Ok, Haynesville Shale landowners it is time for us to ask Congress to include an incentive for landowners to the Natural Gas Act. The bill's number is HR6570. The incentive would be a one-time flat tax rate of 25% or less on lease signing bonuses for landowners in the Haynesville Shale play.

The o/g CEO's have gotten their incentives in the Act. Go to this link, to read a summary, less than two pages, of the current incentives www.house.gov/apps/list/press/ok02_boren/2008_07_22_ngv_rahm_bill.html.

Just send an email to Rep. Ed Markey, D-Mass, who is the chairman of the Select Committee on Energy Independence & Global Warming. His committee is preparing the Act. Congressmen Dan Boren and Rahm Emanuel introduced the bill. You could send the same email to the two sponsoring congressmen, your senators, and congressperson.

The email for the lead staffer working on this bill for Congressman Emanuel is Jonathan.Levy@mai.house.gov. The email for the staffer working on the bill for Congressman Boren is Wendy.kirchoff@mail.house.gov.

8/1 Mr. Levy says he is considering our suggestion. So, email him your ideas on this matter.

An email stating how much a flat 25% or less one-time tax rate on your lease bonus payment would help you, your family, and your community vs the current 35% federal ordinary income tax rate plus state & local taxes could get this needed incentive (tax break) included in the Act for landowners.

Landowners are helping the nation during this time of energy crisis not just o/g companies. Landowners have to live with the physical effects of drilling which is a value to the nation also. The committee's contact is www.globalwarming.house.gov/contact. TCB DS3

Tags: Rate, Tax

Views: 268

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Replies to This Discussion

Permalink Reply by Shaq on July 31, 2008 at 11:52
Well, I certainly hope you succeed in this effort. I understand if, for political reasons, you have to cloak it in certain language. I was just making sure you were aware that the language wasn't necessarily supported by the facts.

Re signing or not signing - I think that's the point. Tax breaks on E and P can actually lead to more E and P. But tax breaks on signing bonuses - I just don't see how that would spur any extra leasing activity at this point. Everyone is desperate to sign as it is.
Permalink Reply by TCB DS3 on July 31, 2008 at 12:43
Shaq, "I just don't see how that would spur any extra leasing activity at this point."

Because of this play and others in the shale, thousands of landowners now know more about E & P and how profitable it can be than they did several months ago. Some of those lease bonus monies are going to go into purchasing stock in E & P and CHK.

"I certainly hope you succeed in this effort."

It is "us" Shaq. Each email to get the one-time tax code language changed will make it happen. There are over 2,200 landowners on this site alone. If only half send emails it will happen. If you factor in the landowners in the other shale plays also that will make a tremendous force to get it changed. TCB DS3
Permalink Reply by Randy on July 31, 2008 at 16:44
I fully believe landowners are getting a good value for what they are giving up. They will NEVER develop the minerals on their own. With all these groups popping up, why doesn't one of them drill their own minerals?

Yes, these operators are in this to make money, thats capitalism at work. I bet we have more than a few Chesapeake shareholders in the crowd here. They are also providing a service and giving MOST people money they never knew existed for something they never cared about before now.

Now I understand large acreage tracts are a different story, but I am referring mostly to the people inside cities in urban environments that otherwise wouldn't have a change of having their minerals developed....EXCEPT by a big, large, corporate superpower.

Sorry if I've rambled or upset anybody, it's just how I see this.


Randy
Permalink Reply by brian mason on July 31, 2008 at 16:53
I heard a rumor a large farm on hwy 3 (name withheld) between Bossier and Benton recieved 90 million dollars bonus. I don't feel sorry about them and their tax burden. You make it - You pay it!
Permalink Reply by Randy on July 31, 2008 at 16:54
You heard a lie...a certain large farm signed very early.

You know the two things men lie about?
Permalink Reply by insomniacnla on July 31, 2008 at 17:18
You must be thinking of "Festervan".
Permalink Reply by alleyboy on August 2, 2008 at 5:59
hogwash. I will lease my mineral rights for the lease bonus and be very happy to put up with the inconvenience of dust, dirt, mud,ruts,noise,traffic congestion,night lighting,day lighting,pipe linees,storage facilities, etc.,etc.,etc. to start receiving the unbelievable royalties that most of us will be receiving. This should pertain especially to these newly made millionaires and nearly so. How greedy can some people get. GIVE 'EM AN INCH AND THEY'LL TAKE A MILE



















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