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Timber Sales Tax Code Questions for Texas

Started by Martin Lazarine, July 14, 2017, 10:23:58 AM

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Martin Lazarine

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.

timberking

Find a Texas CPA.  Do you have a cost basis established?

Texas Ranger

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

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