White County Tax Commissioner: Timber Tax
Beginning January 1, 1992, all timber harvests or sales must be reported on
Department of Revenue form PT-283T. There are three different reports of
- Single Lump Sum Sale of Timber A lump sum sale is one where
the total price paid for the timber is paid all at once, normally up
front. The purchaser of the timber must remit the taxes and the PT-283T
form to the Assessors office within 5 business days of purchase.
- Quarterly Summary of Timber Sold by Unit Price A unit price sale is
one where the purchaser pays the seller for the timber as it is cut
based on volumes of wood harvested. Since these transactions occur at
various intervals during the term of the contract, the law does not
require a PT-283T report be filed each time payments are made, rather a
quarterly report of timber harvested during the quarter is all that is
necessary. Purchaser of the timber must complete, sign and submit two
copies to seller and one copy to Board of Assessors within 45 days after
end of quarter. Seller must sign and submit one of the copies to Assessors
office within 60 days after end of the quarter. Seller will be billed
by the Tax Commissioner for taxes due.
- Quarterly Summary of Timber Harvested by Owner Standing timber that
is harvested by the owner of the underlying land must be reported as
Owner Harvests. During the startup of this law, persons owning timber on
January 1, 1992 and not owning the underlying land fall into this
category as well. Owner must complete and submit one copy to Board of
Assessors within 45 days after the end of the quarter. Owner will be
billed by the Tax Commissioner for taxes due.
The PT-283T form can be obtained in the White County Assessors
Office. Their telephone number is (709)865-5328.