We may have just found a good reason to become Amish. The Columbus Dispatch has an article today about how some (many?) in Ohio’s Amish community are “flipping” their royalty rights–selling future potential royalty payments for a lump sum now–and leaving Ohio for greener pastures in PA or NY–in areas where shale gas drilling is either nonexistent or far less active than it is in the white hot eastern OH area.
The reason to become Amish before you flip your royalty payments? Apparently there’s an arcane section in our beloved tax code that allows the Amish to sell their royalty rights TAX FREE (if they relocate). The Amish get to keep 100% of the proceeds. To which we say: Pass the shoo-fly pie–we’re goin’ Amish!…
We may have just found a good reason to become Amish. The Columbus Dispatch has an article today about how some (many?) in Ohio’s Amish community are “flipping” their royalty rights–selling future potential royalty payments for a lump sum now–and leaving Ohio for greener pastures in PA or NY–in areas where shale gas drilling is either nonexistent or far less active than it is in the white hot eastern OH area.