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TAX TIP |
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Did you know that a portion of your NARO membership dues should be tax deductible? While your association dues are not a contribution to a charity, they should qualify as a legitimate business/educational expense deduction. The same is true for any amount you spend to attend a NARO Convention including travel costs, registration fees, etc. Of course it depends on how your taxes are prepared and if these are expenses against royalty income, expense of a business nature (if a Trust, LLC or individual business) or classified otherwise. The main thing is, check with your tax professional and determine what amount of your NARO expenses are deductiable.
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Factoid |
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Did you know? Of the 2.3 billion acres in the United States, private royalty owners own and manage about 80% or about 1.84 billion acres.
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NARO Mission Statement |
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The mission of NARO is to encourage and promote exploration and production of minerals in the United States while preserving, protecting, advancing and representing the interests and rights of mineral and royalty owners through education, advocacy and assistance to our members, to NARO chapter organizations, to government bodies and to the public.
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NARO - Primary Purpose |
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The primary purpose of NARO is to educate, serving as a national information clearinghouse for, not only our membership, but also state, local and federal government bodies and the general public.
NARO also serves, not only as a “watchdog” in State Capitols and the U.S, Congress but, when deemed necessary, brings to the spotlight of public scrutiny and debate, critical royalty owner issues and concerns that might, otherwise, be ignored or concealed.
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From Tina Bonner - NARO President |
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From Tina Bonner - NARO President
From the ROAR Newsletter-- And They Wonder Why We Seem Paranoid! Read More
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From The Executive Director's Chair |
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From The Executive Director's Chair
We continue to grow! Membership numbers have been on a three-year increase and, given the new Appalachia chapter and their enthusiasm, let’s hope we continue to exceed everyone’s expectations. For those oil and gas companies who have chosen to ignore NARO and our membership, I believe we are reaching the size where they may wish to reconsider. Read More
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NARO Frequently Asked Questions FAQ's |
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1. Q.
Determining Mineral Interests. "Uncle Bill just died. The
lawyer said I get all of the mineral rights. I didn't know Uncle Bill
owned any mineral rights! I can't find the deeds for the
properties. What can I do?"
A. This may
require a bunch of work, but it's doable. Don't give up. Your
investigatory efforts may become extensive but will pay off with tasty
profits. Go to Uncle Bill's lawyer and get all the mineral
files/information you can gather. Read More
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CALENDAR |
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