"JHH, I read here on GHS that you could either pay federal tax's on compensation from a ROW (damages amounts are not subject to tax's), or choose not to pay them if you're planning on keeping the property and passing on to your…"
"Max... we've always paid federal income tax on pipeline compensation... our accountant declares it as regular income. Are you talking specifically about state or federal or both income taxes? If I never sell the land before I die...…"
"I have also started adding a clause that would terminate the ROW if it is not used for the intended purpose for a couple of years so I (or my heirs) may plant trees on it again and put it back into production."
"Something else to remember about ROW's, you don't have to pay income tax on the money you receive.
If you are planning to keep the property that the ROW is crossing and passing it to your heirs, you can choose to not pay any…"
joevic, there have been offers in the range of $1500 to $2000/acre and a quarter royalty however those offers were made to individuals that owned hundreds or thousands of acres. Some of the offers were withdrawn shortly after being made. That may or may not have some relevance to the appearance of Acadian Land with the terms you received.
Hello! I hope the site is a place for you to learn, network and contribute. My name is Keith and I started the site in June of 2008 to open up lines of communication between landowners. Since then, we have grown to over 10,000 members.
There are a couple things you should check out. 1) Check out current discussions. 2) Join in on the County and Parish Groups. By joining a County or Parish, you are networking locally with people who share similar concerns.
Be sure to read up on how to navigate the site HERE. This will help you get the most out of the site.
As exciting as this is, we know that we have a responsibility to do this thing correctly. After all, we want the farm to remain a place where the family can gather for another 80 years and beyond. This site was born out of these desires. Before we started this site, googling "shale' brought up little information. Certainly nothing that was useful as we negotiated a lease. Read More