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View Diary: All of the Gulf of Mexico Just Got Sold. (48 comments)

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  •  Are mineral rights taxable, like property is? (0+ / 0-)

    Or, once you own the mineral rights, do you never have to pay anything on them if you don't use them?  Can you own them, or can you only lease them?

    Could we simply start buying up the mineral rights to areas around the country and simply keep them 'off the market', or would we have to keep generating revenue somehow to have to keep paying the gov't to keep holding them?

    •  Generally (1+ / 0-)
      Recommended by:
      FarWestGirl

      If you don't do development work, the lease is forfeited.  If the lease produces, you pay royalties and/or severance taxes.

      "Well, I'm sure I'd feel much worse if I weren't under such heavy sedation..."--David St. Hubbins

      by Old Left Good Left on Wed Nov 28, 2012 at 02:38:48 PM PST

      [ Parent ]

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