Hello,
I am a mineral rights owner only (not surface) for land in Texas leased by a company based in OK. I have only paid federal and state income tax for the state I resided in for the tax year. I never paid any state tax to OK or TX. I signed the lease when I lived in FL and now live in VA. Here is what I have currently done for taxes:
- Received lease signing bonus payment when I lived in FL. Received 1099 and payed federal income taxes only since no state income tax in FL
- Received shut-in payment when I lived in FL, Received 1099 and payed federal income taxes only since no state income tax in FL
- Received shut-in payment living in VA, Received 1099 and payed federal income taxes AND paid state income tax to VA
- Received production royalties living in VA, Received 1099 and payed federal income taxes AND paid state income tax to VA
I recently became aware of an additional property tax but I have not received any "property tax" documents. Does the "property tax" only apply to years where you are receiving production royalties? Also does it apply if I am NOT a surface rights owner?
Based on what I have read, I think I may have done my taxes incorrectly, perhaps owing some tax to OK?
Please advise.
Thanks in advance. Jay