Financial & Tax Implications of Oil & Gas Leases/Royalties Workshop
OSU Extension in Northeast Ohio is pleased to be hosting workshops for landowners to help them understand the financial and tax implications of oil & gas leases/royalties. This workshop titled “Financial & Tax Implications of Oil & Gas Leases/Royalties in Northeast Ohio will feature David Marrison, OSU Extension Associate Professor, who will discuss the financial and tax implications of Marcellus Shale Leases.
Jun 06, 2012
from 10:00 AM to 11:30 AM
|Where||Ashtabula County Extension office|
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This meeting will help participants become more aware of the potential tax implications of leases and royalty payments. Don’t get caught blindsided by the taxes which will be due. Learn which payments are subject to ordinary income taxes versus capital gain; about the percentage depletion deduction; and how signing a lease may affect your CAUV status. Learn how the IRS handles oil & gas payments. Learn what questions to ask and receive financial planning tips for managing the potential income from these wells.
The registration fee for this program is $5.00 per person. Registration fee is to help defray the cost of program handouts. Fee is payable at the door. However, due to space limitations (50 per site), reservations are required. Return registration to: OSU Extension, Ashtabula County and mail to 39 Wall Street, Jefferson, OH 44047. More information can be obtained by calling 440-576-9008