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Information provided on this site is for general guidance only and
is often simplified. Actual IRS procedures are complex, and taxpayers
should obtain professional assistance or use IRS sources for complete
information.
The
Economics of Forestry in the US
If timber prices follow historical trends real yields
over the next 10 years will probably be in the 8%-10%
range.
US
Forestry Taxation Although
forestry is not exempt from tax in the United
States, the effective level is not high and recognises
the long term nature of the business.
Calculation
of Taxable Income The
authority for deducting management and operating
expenses associated with an "investment"
is section 212 of the Internal Revenue Code.
Casualty
Losses The
tax treatment of losses to forestry assets resulting
from Acts of God such as hurricanes and fire is
generally considered one of the less satisfactory
aspects of US forestry taxation.
Capital
Gains Holding Requirements Provisions
of two recent tax acts, the Taxpayer Relief Act
of 1997 and the The IRS Restructuring and Reform
Act 1998, affect taxes on income from timber sales.
The
Jobs & Growth Tax Relief Reconciliation Act
2003 The
Act impacts timber owners through a lower long-term
capital gains rate, lower marginal rates on ordinary
income and increased deductions for capital investments
by small businesses.
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