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Stumpage is the price a private firm pays for the right to harvest timber from a given land base. It is paid to the current owner of the land. It is paid to the current owner of the land. Historically, the price was determined on a basis of the number of trees harvested, or "per stump".
In 1989, annual timber harvest revenue on federal forest land nationwide peaked at $1.5 billion. [27] Following that year, the impact of overharvesting and increased environmental concerns began to negatively impact timber sales on the O&C lands. [7] In 1994, the federal Northwest Forest Plan was implemented.
1231 Property is a category of property defined in section 1231 of the U.S. Internal Revenue Code. [1] 1231 property includes depreciable property and real property (e.g. buildings and equipment) used in a trade or business and held for more than one year.
The highest sales tax in Washington is on liquor. The spirits sales tax is 20.5% of the value of the product purchased [216] and a $3.7708 per liter spirits liter tax is assessed on spirits sold to consumers. [217] 1 April 2008 saw tax increases in King County (+.001), Kittitas County (+.003), Mason County (+.001), and the city of Union Gap ...
Investing in forest land suitable for producing lumber can provide you income, diversification, inflation protection and more. Timber investing requires careful study of the industry, market and ...
Mitchell Bros. was a timber producer organized in 1903. Upon passage of the predecessor to current income tax law, the company became subject to tax on net income. Mitchell Bros. held various timber lands from which it harvested timber. After harvesting, the timber and land would be sold separately.
States predominantly generate revenue from leasing activities or sales of renewable resources (such as grazing leases and timber sales), uses that provide annual income for the beneficiaries. Additionally, revenues from the sale of trust lands or the sale of non-renewable natural resources are invested into a permanent fund to generate interest ...
Resources that typically incur severance taxes when extracted include oil, natural gas, coal, uranium, and timber. Some jurisdictions use other terms like gross production tax . Note that severance taxes are used in jurisdictions where most resource extraction occurs on privately owned land and/or where sub-surface minerals are privately owned ...