By Dauphin News |
Jul 11, 2024
The Senate has approved Sen. Camera Bartolotta’s (R-46) bill aimed at providing landowners with the same tax benefits as investors. The legislation, known as Senate Bill 654, seeks to align Pennsylvania law with Internal Revenue Service (IRS) tax laws concerning the depletion of wells and mines. This would enable long-time landowners to claim the same depletion rate on their royalties as businesses that have purchased mineral rights.