National Association of Royalty Owners
The Only National Organization Representing Oil & Gas Royalty Owners Interest
Your NARO PAC has the following Memorandum approved by the NARO National Executive Committee:
Click Here to download the Memo
HOW TO PREPARE AN EASY END OF YEAR AUDIT
by Matt Sands, NARO Colorado President
Before I dive into the specifics of a quick and easy check that all
royalty owners should do before filing your state & federal income
tax return, let’s talk about what we mean when we say “royalty audit”. A
royalty audit is simply the process of double checking your royalty
statements against production data reported to the state oil and gas
commission and posted oil & gas prices. In other words, it is the
process of auditing the royalty payments from the operator to make sure
they are correct (or that they at least seem correct given available
you didn’t receive a 1099, work with your accountant to determine what
you should report to the IRS. Even small royalty interests usually
receive a 1099 so you can also contact the company’s owner relations
department to find out the status as it may have not been issued yet.
Help support NARO by making a direct donation.
Times are uncertain right now.
We would be very grateful for your direct donation to our National organization.
We are a 501 (c) (6) Non Profit, Donations may be deductible as trade or business expenses i Please consult your tax professional for your specific situation.
Looking For Your Member Number?
Finding It Is Easy
Most emails generated through our updated system, have personalized information added to the top banner. This includes your NARO member number, renewal date, type of membership and more! This information is also always available to you in your member profile.
To get to your member profile, log in to the NARO website using your email address. Click on your name at the top left portion of your screen. This will open your member profile. There you can view, or print, a membership card, modify your address or email, see when your renewal date is and find your member number!
The National Association of Royalty Owners (NARO) does not explicitly or implicitly endorse third parties in exchange for advertising. Advertising on our website or in our monthly newsletter (ROAR) does not influence editorial content, products, services or NARO member services. NARO is a non-profit organization supported by member dues, donations and supporters. If you are interested in advertising on our website, in our monthly newsletter or at a state convention, please call for information about our rates. Help support our education mission. Contact our National Headquarters today.
© Copyright 2022 National Association of Royalty Owners