OSU Extension to Offer Tax Webinar March 13, April 12 to Update Landowners on Tax Implications of Oil and Gas Leases



COLUMBUS, Ohio – Ohio State University Extension will host two Oil and Gas Lease/Royalties Webinars March 13 and April 12 to help landowners understand the financial implications and tax laws associated with oil and gas leases, organizers said. 

Each two-hour program will offer updates on the tax changes in oil and gas leases stemming from the shale energy boom in Ohio, said David Marrison, an OSU Extension educator.

OSU Extension is the statewide outreach arm of Ohio State’s College of Food, Agricultural, and Environmental Sciences

The program will offer information to help landowners understand how the Internal Revenue Service handles oil and gas payments, among other issues, said Marrison, who will present the webinars and also works with the Ohio State University Income Tax School Program of OSU Extension. 

 “These webinars will help landowners to not get blindsided by the taxes which will be due from signing an oil and gas lease,” he said. “The program will also help landowners learn which payments are subject to ordinary income taxes versus capital gain as well as learn about the percentage depletion deduction.

“The programs will also address how signing a lease may affect landowner’s Current Agricultural Use Value and provide an opportunity for landowners to learn what questions to ask, and to receive financial planning tips for managing the potential income from these shale energy wells.”

The March 13 webinar runs from 7 - 9 p.m., and the April 12 webinar runs from 9:30 to 11:30 a.m., both of which can be viewed online by going tohttp://carmenconnect.osu.edu/ohioagmanager. No pre-registration is required. 

For more information about the webinar, contact Marrison at marrison.2@osu.edu or 440-576-9008.


For more information contact: 
Tracy Turner

David Marrison
440-576-9008, ext. 106