Home
Forms Library
2010 Timber Income and Property Tax Workshop - Timber Taxes - timbertax

2010 Timber Income and Property Tax Workshop - Timber Taxes - timbertax-2025

2010 Timber Income and Property Tax Workshop - Timber Taxes - timbertax Preview on Page 1

Show details

3.9 out of 5

59 votes

The document outlines the Texas Forest Service's 2010 Timber Income and Property Tax Workshop, aimed at educating foresters, landowners, and tax professionals about timber tax laws and regulations. The workshop will cover federal timber income tax issues, property tax incentives, and estate planning strategies, providing participants with a comprehensive workbook and continuing education credits. It highlights new federal tax incentives and changes in reporting requirements for timber sales.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

How to edit 2010 Timber Income and Property Tax Workshop - Timber Taxes - timbertax in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Adjusting documents with our feature-rich and user-friendly PDF editor is straightforward. Follow the instructions below to complete 2010 Timber Income and Property Tax Workshop - Timber Taxes - timbertax online quickly and easily:

Log in to your account. Log in with your email and password or register a free account to try the product before choosing the subscription.
Import a document. Drag and drop the file from your device or import it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit 2010 Timber Income and Property Tax Workshop - Timber Taxes - timbertax. Quickly add and underline text, insert images, checkmarks, and symbols, drop new fillable fields, and rearrange or remove pages from your paperwork.
Get the 2010 Timber Income and Property Tax Workshop - Timber Taxes - timbertax completed. Download your modified document, export it to the cloud, print it from the editor, or share it with other participants through a Shareable link or as an email attachment.

Make the most of DocHub, one of the most easy-to-use editors to rapidly manage your paperwork online!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is the Washington timber tax?

Timber Excise Tax The State of Washington imposes an excise tax of 5% of the stumpage value on the harvest of all timber on public or private lands for commercial or industrial use (see RCW 84.33. 041 and RCW 84.33. 046). This is known as the timber excise tax or, alternatively, the forest excise tax.

What items are not taxed in WA?

Washington law exempts most grocery type food from retail sales tax. However, the law does not exempt prepared food, soft drinks, or dietary supplements. Businesses that sell these foods must collect sales tax. In addition, all alcoholic items are subject to retail sales tax.

What is the timber yield tax?

The Timber Yield Tax is a property tax paid by timber owners when they harvest trees, or timber. The California Department of Tax and Fee Administration (CDTFA) administers and collects the Timber Yield Tax, which, after state administrative costs, is allocated to the counties where the timber was harvested.

Is income from timber sales taxable?

When you sell timber, the profit or loss you make is taxed as a capital gain or loss. Capital gains and losses are classified as either short-term or long-term based on how long you held the asset before selling it. The holding period for timber depends on how you acquired it.

How do I avoid capital gains tax on timber sale?

For people in the 10 and 15 percent ordinary tax brackets, there is no tax on long-term capital gains. Qualifying for long-term capital gains rates depends on your holding period which is determined by how and when the timber was acquired. If timber is purchased, the timber must be owned for more than one year.

What is the timber tax in Washington state?

What is forest tax? Forest tax sometimes called timber tax is an excise tax that began in 1971, when the Legislature excluded timber from property taxation. In place of a property tax on trees, timber owners pay a 5 percent excise tax on the stumpage value of their timber when it is harvested.

How do I record the sale of timber on my taxes?

If you held the timber for more than one year before selling it you should report the total amount received for the timber on Form 1040, Schedule D, Part II, column (d). You may be able to recover your cost basis in the timber sold, also referred to as a depletion allowance.

How are timber royalties taxed?

The timber yield tax is a property tax based on the value of your standing timber. Other taxes, including sales tax and state and federal income tax, may apply to your operation.

2010 Timber Income and Property Tax Workshop - Timber Taxes - timbertax-2025

Here's how it works