Taxation of Oil and Gas Income |
Contents
PETROLEUM PRODUCTION | 2 |
DEPLETION Continued | 11 |
Basic Principles of Federal Income Taxation | 13 |
Copyright | |
36 other sections not shown
Other editions - View all
Common terms and phrases
5th Cir acquired aff'd allocated amount applicable assignor association taxable Bonwit Teller carried interest carved-out oil payment cent Chapter co-owners Commissioner computed contribution corporation cost depletion delay rentals depletable basis depletion allowance depreciation development costs drill and equip dry hole duction economic interest entitled equipment costs erty expenditures fair market value fraction gas property grantee grantor gross income Helvering Income Tax Act incurred intangible drilling costs interest assigned Internal Revenue Code John Vaccaro Kay Kimbell lease bonus leasehold cost lessee ment mineral minimum royalty net income nonacq nonoperating interest oil and gas Oil Company oil or gas operating interest operating rights ordinary income overriding royalty owner P-H T.C. Memo paid partnership payout percentage depletion portion production profits interest prop property interest regulations retained rule sale or exchange Section sublease supra tax consequences tax purposes taxpayer tion transaction treated U.S. Treas United Wilshire Oil Co