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Colorado Oil and Gas Law Attorney: Capital Gains Tax

Capital Gains and Mineral Rights

Capital gains taxes are imposed on the profits made by an owner when an asset is sold for more than the purchase price. Such capital gains taxes apply not only to real estate, but also to royalty or mineral rights interests. At Feldmann Nagel Cantafio & Song PLLC we represent people and businesses in legal matters related to natural resources and are well-versed in the tax laws relating to capital gains. If you are considering a sale of the royalties or mineral rights, please contact a Colorado oil and gas lawyer at our firm to schedule a consultation. Be assured that we will sit down with you, review your financial situation and offer you the best plan available to protect yourself and your business.

Oil and Gas Lawyer in Colorado State

Section 1031 of the U.S. Tax Code, known as the "1031 exchange," provides a means for taxpayers to defer the capital gains tax on sales of royalty or mineral rights interests. The deferment occurs when the royalty or mineral rights interest is sold and "like-kind" property of equal or greater worth is purchased. Such property may include:

  • Minerals
  • Royalties
  • Oil and gas working interests
  • Real estate

With a thorough understanding of oil and gas law, our firm can help you navigate the complicated tax code provisions and documents needed to complete a 1031 exchange. The benefits have helped countless people postpone the taxes due on eligible properties, permitted investors to diversify without added tax expense and boosted the amount of money available to invest; and we want you to realize all of those benefits also. Please trust that we will do all that is possible to make sure you receive your capital gains deferment.

To learn more about how we can help you, we invite you to contact a Colorado oil and gas law attorney at Feldmann Nagel Cantafio & Song PLLC.