NARO Series: Oil and Gas Royalties

Nearly 200 people packed Grand Vue Park in Moundsville, West Virginia on Thursday evening for an Oil & Gas Town Hall meeting about “Understanding The County Tax Assessment on Your Oil and Gas Royalties.”  The meeting was hosted by the National Association of Royalty Owners (NARO) and the oil and gas law firm of Gold, Khourey & Turak.

This is the first of several “Fuel Yourself With Knowledge” series Oil and Gas Town Halls over the next several months in an effort to help land and mineral owners understand their oil and gas rights and oil and gas royalties.

People do not always realize that mineral rights and mineral interest that they own are taxable for property tax purposes. When they started receiving royalty payments, they knew they had to pay a federal income tax on the income, and a state income tax, but they didn’t always realize that the mineral rights and royalties they receive are taxable for property tax purposes also

Chris Kessler, Marshall County Assessor

Take a Look at the News Coverage of the Event:

WTOV: WV residents learn about mineral rights at special meeting

Upcoming NARO Appalachia Education Series Events

Understanding Oil and Gas Tax Reporting

February 21, 2019 (6-8pm) – Wheeling Island, Wheeling, West Virginia

Negotiating Right of Way and Pipelines on Your Property

March 27, 2019 (6-8pm) – The Mollohan Center, New Martinsville, West Virginia

How is Gas Processed?

April 17, 2019 (6-8pm) – Sistersville VFD, Sistersville, West Virginia

Selling Your Minerals

May 16, 2019 (6-8pm) – Doddridge County Park, West Union, West Virginia

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