The timber industry is not new to the Mountain State. But, as with any industry, policy and procedure changes can make it difficult for landowners and professionals alike to keep up with the current programs.
To help improve the number and quality of timber transactions in West Virginia, West Virginia University Extension is hosting the West Virginia Timber Tax Workshop, which offers a full-day of discussion covering exactly what landowners and professionals need to know about timber sales and the taxes associated with those sales. This one-day conference will take place on Tuesday, March 19 at the Days Inn Hotel in Flatwoods, West Virginia.
The workshop will be both interactive and educational, covering a wide range of topics from the complexity of selling timber and reporting that income to the West Virginia Managed Timberland Program and state tax incentive programs. Attendees will have the chance to hear from forestry experts from West Virginia University, USDA Forest Service and the West Virginia Division of Forestry.
Dave McGill, WVU Extension forest resources specialist, saw an opportunity for WVU Extension Service to educate and help this population of state residents easily navigate the complicated process that selling timber can be.
“Most people don’t think about selling timber until the last minute,” said McGill. “But, it is important for landowners to plan for complex timber transactions and the tax implications that come along with them. And, WVU Extension is available to answer questions and help guide landowners through the process.”
Professionals in attendance can earn up to four continuing forestry education credits.
The cost to attend is $30 and lunch will be provided. Programming begins at 9 a.m.
The workshop is supported in-part by the West Virginia Division of Forestry, WestRock and the Association of Consulting Foresters. For more information about the workshop, contact Dave McGill at firstname.lastname@example.org or 304-293-5930.
This workshop is one example of how WVU Extension Service is helping move West Virginia forward. By supporting business development and improving business practices, efforts like this ensure we are cultivating a positive business climate throughout West Virginia.
WV Forward is a statewide collaboration led by West Virginia University, the state Department of Commerce and Marshall University to help grow the economy by adding jobs, investing in education and improving health and wellness to create the most prosperous West Virginia possible.