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.

When May 18, 2012
from 10:00 AM to 11:30 AM
Where Ashtabula County Extension office
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Click here to access the registration flyer

 

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

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Ohio State University Extension embraces human diversity and is committed to ensuring that all research and related educational programs are available to clientele on a nondiscriminatory basis without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity or expression, disability, or veteran status. This statement is in accordance with United States Civil Rights Laws and the USDA.

Keith L. Smith, Associate Vice President for Agricultural Administration; Associate Dean, College of Food, Agricultural, and Environmental Sciences; Director, Ohio State University Extension and Gist Chair in Extension Education and Leadership. TDD No. 800-589-8292 (Ohio only) or 614-292-6181.