Max Baucus Out to Ax Timber Tax

Timber sales are typically taxed at the standard 15 percent capital gain rate. Yet timber companies typically pay the standard 35 percent corporate tax rate. This quirk in the tax law has led many timber companies including Plum Creek and Potlatch to restructure as real estate investment trusts (REITs), which enables them to take advantage of the lower 15 percent rate. Montana Senator Max Baucus wants to change that.
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Preserving Endangered Species for Profit

Who can save the Alabama red-bellied turtle? Maybe your accountant can. He or she will have a chance if Congress passes new legislation that would give tax breaks to landowners who act to preserve species like the Alabama red-bellied turtle, one of the creatures considered endangered by the U.S. Fish and Wildlife Service. Read more