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This note explains the benefits of establishing a timber basis for tax and casualty loss benefit. Step by step examples are offered for owners to understand the process of calculating a basis and adding and depleting it when managing or harvesting timber, respectively. Finally, a copy of the federal Internal Revenue Service Form T (Timber) is provided to show how to document the establishment of a basis with tax authorities or for your personal records.
Tips for preventing timber trespass and theft are reviewed in this publication. Special documentation of pertinent laws, avoidance strategies and steps to take once your timber or property has been stolen or trespassed upon.
This publication is an example of a timber sale contract for "pay as cut" sales where seller receives compensation once timber is harvested and leaves the property. The example details provisions that have "stood the test of time" and have gone through professional and legal review. The contract is provided for educational use and sellers are advised to seek professional forester assistance as well as tax and legal assistance as needed.
Woody biomass harvesting for renewable energy generation and bio-based products is likely to increase in North Carolina - sparked by higher energy prices and government policies to promote renewable energy. The expansion of a wood-based energy industry has prompted concerns about intensified forest biomass removal and its potential impact on water, wildlife, biodiversity and site nutrients. This publication reviews common, cost effective strategies that minimize, prevent, or mitigate harvest impacts.
Prism sweep and line intercept methods were compared for accuracy and efficiency to measure woody biomass residues on a recently harvested site in Eastern North Carolina. A 100% tally control on 0.1 acre plots was used to compare volume estimates of tested methods. Estimates of residual volume were accurate and not significantly different. Prism sweeps required an average of three minutes per plot, whereas line intersect samples averaged seventeen minutes per plot. Prism sweeps were accurate and five times more efficient than line intersect samples.
