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This document serves as a legal agreement between the U.S. Department of Agriculture, Forest Service, and the Purchaser for the sale of timber from the National Forest, detailing the conditions, obligations,

How to fill out timber sale contract applicable

How to fill out TIMBER SALE CONTRACT (Applicable to Sales to be Scaled after Felling)

1. Begin by entering the date of the contract at the top.
2. Fill in the names and addresses of both the seller and buyer.
3. Specify the location of the timber sale, including the legal description of the land.
4. Indicate the type of timber to be sold and any specific species.
5. State the estimated volume of timber and the pricing structure, including any scaling fees.
6. Outline the terms and conditions regarding the harvest, including start and completion dates.
7. Include any restrictions on the use of the land and access requirements.
8. Agree upon payment terms and any deposits required.
9. Describe the responsibility for any damages to the property during the logging process.
10. Both parties should sign and date the contract to make it legally binding.

Who needs TIMBER SALE CONTRACT (Applicable to Sales to be Scaled after Felling)?

1. Timber sale contracts are needed by landowners selling timber and purchasers who intend to buy timber for harvesting.
2. Forestry professionals and logging contractors may also require the contract to ensure legal compliance.
3. Financial institutions that provide loans based on the value of timber may need the contract for assessment.

People Also Ask about

How to treat timber sales on a tax return?

If you receive income from the sale of lumber, logs or other products produced by the timber itself then you report that income as Ordinary Income. It is also considered Ordinary Income if you sell non-timber forest products such as moss, ferns or medicinal products.

How do timber contracts work?

A typical timber sale contract usually contains the following: a description of the timber to be sold (estimated volume, number of trees and species), which timber will and will not be cut, the selling price (either lump sum or unit price), terms of payment, the location and boundaries of the sale, and time allowed to

How do I sell timber on my property?

You can advertise your timber through local timber markets, mills, or logging companies. You can also reach out to forestry organizations and associations for recommendations on reputable buyers. It's important to get multiple bids to compare prices and choose the best offer.

Is there capital gains tax on timber sales?

Understand timber sale income and capital gains tax In most cases, your income from a standing timber sale is taxed at the favorable long-term capital gains tax rate (0%, 15%, or 20% depending on your taxable income) if you have owned it for more than 1 year.

How do you make money from timber on your land?

You can advertise your timber through local timber markets, mills, or logging companies. You can also reach out to forestry organizations and associations for recommendations on reputable buyers. It's important to get multiple bids to compare prices and choose the best offer.

What is your basis in timber sales?

Basis is the capital investment in property for tax purposes. When forestland is acquired, a certain portion of the purchase price is allocated to the timber, the land, and potentially other assets such as a house. The basis is separate from fair market value (FMV), which is the appraised value of an asset.

How much does timber expand and contract?

In the northern hemisphere, humidity increases in summer and decreases in winter. As a rule of thumb, timber can change in size by 1% for every 4% shift in moisture content levels.

Do you have to pay capital gains on timber sales?

Understand timber sale income and capital gains tax In most cases, your income from a standing timber sale is taxed at the favorable long-term capital gains tax rate (0%, 15%, or 20% depending on your taxable income) if you have owned it for more than 1 year.

How much can I get for the timber on my land?

Based on 2022–2024 averages: A 100-acre plantation in the US South at 26+ years might yield $211,100–$227,500 from a clearcut. The same plantation, thinned at 21–25 years, could bring $53,800–$90,400. A 100-acre natural stand might be valued at $196,000–$216,800, with thinnings at $66,400–$75,700.

How does a logging contract work?

A typical timber sale contract usually contains the following: a description of the timber to be sold (estimated volume, number of trees and species), which timber will and will not be cut, the selling price (either lump sum or unit price), terms of payment, the location and boundaries of the sale, and time allowed to

For pdfFiller’s FAQs

What is TIMBER SALE CONTRACT (Applicable to Sales to be Scaled after Felling)?

A TIMBER SALE CONTRACT is a legal agreement between a seller and a buyer for the sale of timber that will be measured (scaled) after it has been felled, specifying the terms of the sale including pricing, volume, and delivery.

Who is required to file TIMBER SALE CONTRACT (Applicable to Sales to be Scaled after Felling)?

Both the seller and the buyer of the timber are typically required to file the TIMBER SALE CONTRACT to ensure that both parties agree to the terms and conditions set within the contract.

How to fill out TIMBER SALE CONTRACT (Applicable to Sales to be Scaled after Felling)?

To fill out a TIMBER SALE CONTRACT, parties need to provide details including the names and addresses of both the seller and buyer, a legal description of the property, type and amount of timber, pricing terms, payment conditions, delivery terms, and any special clauses as agreed by both parties.

What is the purpose of TIMBER SALE CONTRACT (Applicable to Sales to be Scaled after Felling)?

The purpose of the TIMBER SALE CONTRACT is to establish legal rights and responsibilities of both parties, outline the specifics of the timber sale, ensure clarity in transactions, and provide a framework for resolving disputes that may arise regarding the sale.

What information must be reported on TIMBER SALE CONTRACT (Applicable to Sales to be Scaled after Felling)?

The TIMBER SALE CONTRACT must report information including the identification of parties involved, the description of timber to be sold, volume estimation, price per unit, payment schedule, delivery terms, and any applicable local regulations or requirements.