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<a href="http://www.accessmylibrary.com/article-1G1-122777530/potlatch-corp-spokane-washington.html" title="Facts and information about POTLATCH CORP. Spokane, Washington; Timber Firm Wonders If It's The REIT Move.(THE NEW AMERICA)">POTLATCH CORP. Spokane, Washington; Timber Firm Wonders If It's The REIT Move.(THE NEW AMERICA)</a>
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POTLATCH CORP. Spokane, Washington; Timber Firm Wonders If It's The REIT Move.(THE NEW AMERICA)
Byline: PETER BENESH
Not many 100-year-old companies face an identity crisis. Potlatch does.
For the lumber company, which was founded in Idaho in 1903, it's a taxing issue.
Or more to the point, it's an issue of taxes.
Should Potlatch call itself a lumber producer or a landholder? As a landholder, it could reclassify itself as a real estate investment trust and get a better tax deal, says analyst Steven Chercover of D.A. Davidson.
Two other lumber companies, Rayonier and Plumb Creek Timber, have made the switch to REITs.
"To qualify as a REIT, the majority of assets and income have to be generated from passive activities like growing trees rather than making paper or lumber," Chercover said.
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