I received a tax bill with my property tax bill for royalty tax. It had no dates on what this covers,called the county,and they said they were only collectting this for the state.Called the state and did not get a good explanation of what this tax is.I paid state income tax on the royalty i received and was told this was tax for the oil still in the ground ,I told them it has always been there and I did not pay tax on it.Untill I get some answers I do not intend to pay this tax.How many times can the state tax the same dollar.I think we should ban together and get some answers from the state as to rather they would prefer we pay this tax or income tax on royalty income . what are ever ones thoughts on this tax
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You forgot the self employment tax.I think it is 11% Ed
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