Did you file a W-9 with them. It tells them your Tax ID number. If you did not, they then will take out 28% Federal tax.
yea and they are getting interest on the taxes they with hold from you. think about that
So wish that was correct info. The do not withhold unless asked. Or not provided a w-9 The person at EQT told me I was the 6th person to ask this week.
Neither EQT, nor HG, Ascent or Antero are taking deductions out of our old lease, flat rate or otherwise (amendments for pooling old leases). Under WV law I don't believe they are allowed to unless it is stated in the lease. I hear that other companies are viewing this differently. Can't believe that EQT is trying to take fed deductions. That is the reason we provide them with our SS#. The paperwork usually states that if we don't give them our tax info, THEN they will take the deductions.
yea there paying us at the well head so its there gas so why are we paying to get it to market thank our ele. officials
I've given this answer several times on this and other forums -- operators do not pass along hedge profits/losses to royalty owners.
This is a huge problem....leases need to contain a clause to ensure mineral owners are selling their minerals at a minimum value. Even if the value goes to $0, because of the hedging contracts, E&Ps will continue to produce. I am not a professional, but it seems the hedging contracts are always greater than the daily prices. Myself, I always want to use the hedging value, not the market value.
Don't take my word for it. Call EQT and ask them yourself. Only passing along what they told me. And I believe THEM.
Maybe they're moving mineral land owners who receive royalty payments from producing wells into this new 28% tax withholding deduction gradually. And, they've not gotten to every mineral acreage owner yet. I don't know.
They told me the policy of withholding 28% for taxes began at the beginning of 2015.
Rice paying 79 cents per mcf was our last check
That is the lowest I've heard of for Western Greene County.
Is that 79 cents per mcf before or after deductions?