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Inhheritance Tax?
34 Replies

I talked to a freind in PA. yesterday that told me that his elderly mother had passed away last May . He told me that the state (PA) had put a hold on her properties and wanted him to hire a…Continue

Started this discussion. Last reply by rmc Apr 4.

Pipelines: Agents wanting to lease gas line right of ways
19 Replies

Hello has anyone been having any expereince with companys wanting to lease gas line right of ways what kind of offers per foot offers for compressers like on a 300'x300' pad ? offers for roadways…Continue

Tags: to, lease, gas, line, wanting

Started this discussion. Last reply by JK Apr 6, 2011.

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rmc replied to rmc's discussion 'Inhheritance Tax?'
"It seems to me that eventually the only people that will be able to own any amount of property in this area will be the one percenters. The rest will have to sell out to the ones that can pay what a shame ."
Apr 4
Derrick Strain replied to rmc's discussion 'Inhheritance Tax?'
"inheritance tax is the ultimate in government redistribution of wealth.....they just tie up property to be inherited, charge a goodly percentage of their believed value(with the housing bubble and crappy econemy, property tax didnt fall…"
Apr 3
craig replied to rmc's discussion 'Inhheritance Tax?'
"As always VG, you post valid thoughts. The spud fee was $25,000 in this case. "
Apr 3
Jim Shoos replied to rmc's discussion 'Inhheritance Tax?'
"Payment for "surface damages" are just that...compensation for damage to your property.  If you can in fact establish that your land did incur damages to the extent of the payment you receive then it is not taxable.  To the…"
Apr 3
craig replied to rmc's discussion 'Inhheritance Tax?'
"I'm not a lawyer, etc...I am an informed bussinessman that has lived in this area all my life and know, or can find out,  just about anything going on in the area. The property owners whose land the well site is located on will be paying…"
Apr 3
Jim Shoos replied to rmc's discussion 'Inhheritance Tax?'
"Well, if Mom, Dad or weird Uncle Al got the lease bonus money and you inherited the land then I can't see where the State would have any claim whatsoever to any inheritance tax strictly only the bonus proceeds, unless you also inherited cash…"
Apr 3
craig replied to rmc's discussion 'Inhheritance Tax?'
"I can answer a few things. First off if a pad is located on a declared clean and green property then the acreage must be taken out of c + g and 7 yrs (difference in taxes) on said acreage. This I know for sure. Remember, the tax I am talking about…"
Apr 2
Billy Park Whyde replied to rmc's discussion 'Inhheritance Tax?'
"VG I was only asking a question with no property really in question r even state. O am a bit appalled at the idea of the imposition of speculative values upon which a landowner would have no direct control over. "
Apr 2
Jim Shoos replied to rmc's discussion 'Inhheritance Tax?'
"I make no judgment as to the fairness of inheritance tax laws but I will say that they have been around forever.  Nobody ever worries about them if they don't have squat to pass to their heirs.  Thanks to the proliferation of the…"
Apr 2
Lester L Greevy replied to rmc's discussion 'Inhheritance Tax?'
"Please email me privately at les@greevy.com"
Apr 2
craig replied to rmc's discussion 'Inhheritance Tax?'
"Not that I know of Jeff. His attorney came up with a current value of the gas/etc, as well as a volume over the life of the well, then they used some sort of table to get the royalties over the years. I don't know all the particulars, but a…"
Apr 2
Billy Park Whyde replied to rmc's discussion 'Inhheritance Tax?'
"rmc I hope that some of the farmer landowners go into politics as a way of protecting themselves along with others!"
Apr 2
rmc replied to rmc's discussion 'Inhheritance Tax?'
"Hey folks its great to plan for the future and get these things taken care of but just think of all the older farming familys that signed poor leases a few years ago that wont form LLC's or anything else and end up losing the farm over these…"
Apr 2
Buddy replied to rmc's discussion 'Inhheritance Tax?'
"Attorney Greevy, Thank you for the response... I think we are leaning in the FLP direction but were told that we would pay approximately $5,000 for the document plus another large amount for the CPA services. Do we really need extra CPA services to…"
Apr 2
Lester L Greevy replied to rmc's discussion 'Inhheritance Tax?'
"Buddy, We like Family Limited Partnerships coupled with proper Will , Power of Attorney and Living Will. Les"
Apr 2
Jeff replied to rmc's discussion 'Inhheritance Tax?'
"Craig, are these tables for future royalties on line?"
Apr 2

Profile Information

What is your role in the Marcellus?
Landowner
Why are you here?
Networking, Learning, Leasing Your Land
Which state(s) are you following?
Pennsylvania
Tell us your story...
I would not have signed the last lease for any amount of money. I would have basicaly signed over the farm to them but would have had to pay the taxes.

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At 4:08pm on November 5, 2009,
LandownerKeith Mauck (Site Publisher) said…
Please note the current group for Greene http://www.gomarcellusshale.com/group/greene_county_marcellus
At 1:09pm on October 28, 2009,
LandownerKeith Mauck (Site Publisher) said…
Just wanted to touch base with you. Hope things are well and that this is a site where you can dive in and begin contributing. Please be sure to check out our county groups and see if there is a county you can participate in. Have fun "shaling."

Keith
Site Publisher
 
 
 

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