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Our woods are taxed as agricultural timber lands. What are some of the tax considerations we might need to take into account?

Here's a guide that you may want to look at: http://extension.psu.edu/natural-resources/forests/finance/f...

As it says in the guide:

Forestry taxation is a complicated and somewhat confusing process. An informed landowner who works closely with competent professionals—forester, accountant, lawyer, or other investment advisers—is in the best position to deal with taxes related to forest income.

AJ
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