Taxes And Your Mineral Rights
A major concern people have when thinking about selling their mineral rights is the subsequent tax penalties they may face. Taxes often play a decisive role in the decision making process of those who own mineral rights. Depending on your location, your taxes will vary. Deciding to put your mineral rights up for sale can put your family in a much better financial situation, but it is important to understand all of the potential consequences of the sale.
At The Mineral Auction, our expert mineral rights professionals understand the concerns you may have about your financial future should you decide to sell. With the help of our professional staff members, you can make a decision that is best for you and your family. Oftentimes, it is better to sell early, before tax rates increase. Our team is ready to help you understand the financial consequences and benefits of selling your mineral rights.
Types of Taxes You May Incur
Our mineral rights experts have years of experience helping Austin residents sell their mineral rights and make smart financial decisions. It is important to be aware of the taxes you could incur from selling or owning mineral rights. Some of the taxes you may face include:
- Federal income tax
- State tax
- Long term capital gain tax
Our mineral rights experts can help you understand how your financial situation could change with regards to taxes.
Contact a Mineral Rights Expert in Austin
If you and your family are thinking about selling your mineral rights, the experts at The Mineral Auction can help you through the process. If you would like to get in touch with a friendly member of our team as well as our vast brokerage network, call (512) 698-2802 today.