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Author Topic: Timber Sales Tax Code Questions for Texas  (Read 284 times)

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Offline Martin Lazarine

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Timber Sales Tax Code Questions for Texas
« on: July 14, 2017, 10:23:58 am »
I am new on this Forestry Forum.
We have buyers calling me making lump sum offers over the phone to harvest the timber on our Shelby County TX property.
How should I handle the taxes where I get taxed the least?
I've read on a University of Missouri Forestry Extension website about timber sales taxes.
They mentioned about a capital investment gains tax code is the best way to handle all this.
But. I am not sure that it may apply to only Missouri residents.

Thanks,

Martin L. Lazarine, Jr.

Offline timberking

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Re: Timber Sales Tax Code Questions for Texas
« Reply #1 on: July 14, 2017, 12:58:04 pm »
Find a Texas CPA.  Do you have a cost basis established?

Offline Texas Ranger

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Re: Timber Sales Tax Code Questions for Texas
« Reply #2 on: July 14, 2017, 02:24:18 pm »
fill out some of your personal stuff so we know where you are located.  If in south east there is a good CPA in Livingston to help with these problems.
The Ranger, home of Texas Forestry