WE RECENTLY DEPOSITED A BANK DRAFT TO OUR BANK WHERE WE WERE TOLD THAT 41% WE WOULD HAVE TO PAY IN TAXES. DOES ANYONE KNOW IF THIS IS CUSTOMARY OR IF THERE IS A WAY TO DEPOSIT DIFFERENTLY SO YOU DON'T HAVE TO PAY SO MUCH IN TAXES. JUST WONDERING?

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Re "Bonus" - what we are being offered is a "paid-up" lease. The state gets actual bonuses, because they get a signing bonus, plus annual rental. When we get this money upfront for a 3-year lease, it's actually rent. The oil companies like to designate, because of their taxes, but if you don't get annual rental during the first 3 years, then what you are getting is simple rent. That is taxed differently. And if your acreage is of adequate size, or you farm or something like that, you may be able to use the rent as business income, assuming that you manage your property. Hint: H&R Block and other quick fix tax firms are NOT the answer to this problem. Regarding estimated taxes: you don't pay them in the first year. And if you have regular income where taxes are conveyed to the IRS by your employer, you may not have to pay estimated taxes. Check with both a good accountant and the IRS. And remember: the IRS clearly states that they are not responsible for the accuracy of their telephone information! Luck to you.

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Tuscaloosa Trend Sits On Top Of Poorest Neighbourhood For Decades - Yet No Royalties Ever Paid To The Community -- Why??

In researching the decades-old Tuscaloosa Trend and the immense wealth it has generated for many, I find it deeply troubling that this resource-rich formation runs directly beneath one of the poorest communities in North Baton Rouge—near Southern University, Louisiana—yet neither the university ( that I am aware of)  nor local residents appear to have received any compensation for the minerals extracted from their land.

This area has suffered immense environmental degradation…

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Posted by Char on May 29, 2025 at 14:42

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