The Ohio Dormant Mineral Act

Increasing oil and gas discoveries in Ohio has led more and more property owners to search for profitable minerals on their land. However, surface landowners are often surprised to learn that they cannot drill on their property because another individual or entity owns the rights to the gas, oil, coal, or other minerals beneath the...
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Individuals Limited by S Corporation Loss Limitation But Not Passive Loss Limitation

Interesting tax update from the CCH blog: Individuals Limited by S Corporation Loss Limitation But Not Passive Loss Limitation; Testimony Established Wife Materially Participated; Late-Filing Penalty Applied (Montgomery, TCM) An individual materially participated in the activities of a limited liability company (LLC) that she and her husband started and for which both taxpayers performed services. Therefore, her...
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