Reply to thread

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>

Verification: What is the most common fish caught on this site?

Recent Posts

N
Wolf Hunting?
- Latest: NDbowman
- Today at 4:37 PM
Beef prices going up????
- Latest: Whisky
- Today at 3:46 PM
N
Crazy Fingers
- Latest: NodakBob
- Today at 2:39 PM
Anyone snare rabbits?
- Latest: 1lessdog
- Today at 12:15 PM
NFL News (Vikings)
- Latest: wslayer
- Today at 9:10 AM
OAHE Ice 25/26
- Latest: Kurtr
- Today at 9:08 AM
N
Any ice reports?
- Latest: NDbowman
- Today at 6:34 AM
P
Look at the size of that deer
- Latest: Pheasant 54
- Yesterday at 10:44 PM
It's been a good season.
- Latest: grumster
- Yesterday at 9:00 PM
Montana to cut deer tags
- Latest: Kurtr
- Yesterday at 2:03 PM
I HATE coyotes!!!!
- Latest: SupressYourself
- Yesterday at 11:17 AM
S
Satellite Internet
- Latest: sdietrich
- Thursday at 10:34 PM
T
Let's talk EBIKES!!!
- Latest: Traxion
- Thursday at 8:56 PM
Which one you did this?
- Latest: bucksnbears
- Thursday at 8:29 PM
L
Hard decision -Dog
- Latest: LBrandt
- Thursday at 5:29 PM
Accuphy Ping Live Sonar
- Latest: tdismydog
- Thursday at 3:15 PM
Buying gold and silver.
- Latest: Maddog
- Thursday at 2:52 PM
Dickinson Sporting Complex
- Latest: Wirehair
- Thursday at 10:55 AM
Health insurance
- Latest: lunkerslayer
- Thursday at 12:18 AM
A
Yard wide slip'n'slide
- Latest: AR-15
- Wednesday at 4:47 PM
Late night treat!
- Latest: Davy Crockett
- Wednesday at 11:48 AM
2016 Ice Castle 8x21 RV
- Latest: JMF
- Wednesday at 10:52 AM
M
Food porn
- Latest: measure-it
- Wednesday at 9:53 AM

Friends of NDA

Top Bottom