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Message: <blockquote data-quote="Allen" data-source="post: 335484" data-attributes="member: 389"><p>That is exactly how it works.  The tax is on production from the well.  The mineral owner is set by contract a percentage of that production, The production tax is absolutely a tax being paid by the mineral owner, as well as the oil production company.  I am shocked you are just now learning this.</p><p></p><p><span style="color: silver"><span style="font-size: 9px">- - - Updated - - -</span></span></p><p></p><p>p.s. The State is smart enough to make the oil companies withhold it from the Royalty checks.  It is a specific line on the monthly check stubs, and it is also on the 1099's the Royalty owners get every year.</p><p></p><p><span style="color: silver"><span style="font-size: 9px">- - - Updated - - -</span></span></p><p></p><p>Oh yeah, and then the Royalty recipients also get to pay income taxes on that as well (not to mention the Obamacare tax....I think it's called the Net Investment Tax).  It works out to where one's royalty income has a net tax rate of 33-52%, depending on their other income. </p><p></p><p>So yeah, it really is the mineral owners that are getting taxed into oblivion.  There would be open conflict in this country if everyone paid the same rates.</p><p></p><p><span style="color: silver"><span style="font-size: 9px">- - - Updated - - -</span></span></p><p></p><p></p><p></p><p></p><p>Unless you are thriving on minimum wage, you may wish to run those numbers again.  $400 a year suggests you make $20k a year, or probably less.</p><p></p><p><span style="color: silver"><span style="font-size: 9px">- - - Updated - - -</span></span></p><p></p><p></p><p></p><p>It is so NICE to see someone else that gets it.  This can be a ticket to a very low tax bill down the road, we are just now starting to see it come to fruition. Our kids though...</p></blockquote><p></p>

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