It's great experience for me to read and learn from the forum. Thank y'all!
I'm a non-US citizen and I bought some "well bore and well bore only" interests by using a BVI(offshore company) and US LLC structure. My questions are:
1. Is the well bore and well bore only interstest can be considered as a carved out royalty interest? or something else?
2. For federal and state tax filings, because it's related to two levels of companies, i.e. BVI and Delaware LLC, how shoulld I file both taxes correctly?
3. Is there any tax burdens I should keep in mind before any financial year? Ad Valorem tax?