Thread: Can someone explain why this is called a "stimulus"
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Old 01-31-2009, 10:23 AM   #34
dalmations202
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Originally Posted by alexamenos View Post
FYI -- mineral rights are already taxed (heavily) in the state of Texas. Oil companies and royalty interest owners pay taxes on their minerals the same way home owners pay taxes on the value of their homes. In most other states, oil companies pay a severance fee on oil and gas production to the state long before they pay income taxes (or not) to the fed gov.
Please show me the laws on this one.

I have never seen actual mineral rights taxed. Yes, any increase (ie the oil when it pumped) is taxed, but to just own them is not taxed to my knowledge. I'd love to see the codes there.

And yes, there is a severance fee, and yes the oil/gas is taxed once pumped...I know that, but I have never seen mineral rights taxed.
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