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167 <br /> Miscefi nee ns <br /> Selling Timber& Cansultipp_foresters <br /> Consulting Forester <br /> I HIGHLY recommend having a private consulting forester handle your timber sale. <br /> Although they charge a fee, consultants generally find their landowner a better price for <br /> their stumpage. This should be the first thing you do, as your consultant can help you <br /> decide when to begin work. I have enclosed a list of consultants that you may contact. <br /> Attached you will find some information about selling timber and information that needs <br /> to be part of the timber sale contract. As with any forestry operation, someone should <br /> monitor the operation closely. You could also notify the NC Forest Service when <br /> logging is occurring so we can perform a water quality inspection. <br /> I <br /> Enyh•onmental Concerns <br /> All forestry activities should be performed in a responsible manner and with minimum <br /> site disturbance. The following need to be considered when harvesting: <br /> ✓ All forestry activities are required to follow the NC Forest Practice Guidelines <br /> (FPG's) in order to remain exempt from the Sedimentation Pollution Control Act. <br /> FPG's are performance standards established to help protect North Carolina's <br /> water quality. <br /> ✓ The law holds you equally responsible for compliance with these regulations. <br /> You need to use your timber contract to put the responsibility back on the logger <br /> and timber buyer. <br /> ✓ Forestry activities must also comply with the Neuse, Tar-Pamlico, and Jordan <br /> Lake River Basin rules (where applicable). <br /> ✓ Any activity involving heavy machinery should be done when the soil is dry to <br /> help prevent rutting and soil compaction. <br /> i <br /> Timber "Basis" <br /> Timber SaleSS - Timber Basis = Taxable Income'll <br /> You will owe federal and state tax on any net timber sale income (your"gain"). Your <br /> taxable income is the gross dollar value of the sale, less any costs of selling the timber <br /> (consultant fees, temporary road improvements, etc.), AND less your adjusted timber <br /> "basis". <br /> Your original basis is usually one of the following: <br /> 14 <br />