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Business Taxes Law Guide—Revision 2024
Timber Yield Tax Annotations
840.0145 Timber Owner. When an exempt governmental entity enters into a contract for the sale of standing timber, the non-exempt buyer obtains title with the right to sever and is the timber owner for timber yield tax purposes. If the contract specifies a date by which the timber must be removed, the ownership of any timber still standing after that date reverts to the governmental entity. C 8/17/1983.