Mineral Treatment Processes for Percentage and Depletion Purposes: Hearings Before the Committee on Ways and Means, House of Representatives, Eighty-sixth Congress, First Session, on the Legislative Proposal of the Treasury Department Specifying the Treatment Processes which Shall be Considered Mining for the Purpose of Computing Percentage Depletion in the Case of Mineral Products. March 5-6, 9-11, 1959
U.S. Government Printing Office, 1959 - Depletion allowances - 306 pages
Considers Treas Dept proposal that, for tax purposes, mineral treatment processes shall be considered at same percentage depletion allowance as mining.
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Page 162 - As used in this paragraph the term "gross income from the property" means the gross income from mining. The term "mining" as used herein shall be considered to include not merely the extraction of the ores or minerals from the ground but also the ordinary treatment processes normally applied by mine owners or operators in order to obtain the commercially marketable mineral product or products...
Page 141 - ... extraction of the ores or minerals from the ground but also the treatment processes considered as mining described in paragraph (4) (and the treatment processes necessary or incidental thereto), and so much of the transportation of ores or minerals (whether or not by common carrier) from the point of extraction from the ground to the plants or mills in which such treatment processes are applied thereto...
Page 120 - In order to obtain the commercially marketable mineral product or products, and so much of the transportation of ores or minerals (whether or not by common carrier) from the point of extraction from the ground to the plants or mills in which the ordinary treatment processes are applied thereto...
Page 171 - ... any rents or royalties paid or incurred by the taxpayer in respect of the property. Such allowance shall not exceed 50 per centum of the net income of the taxpayer (computed without allowance for depletion) from the property, except that in no case shall the depletion allowance under section 23 (m) be less than it would be if computed without reference to this paragraph.
Page 232 - If you have any questions, I would be glad to try to answer them. Mr.
Page 172 - ordinary treatment processes" includes the following: (A) In the case of coal— cleaning, breaking, sizing, dust allaying, treating to prevent freezing, and loading for shipment; (B) In the case of sulfur recovered by the Frasch process...
Page 21 - That in the case of a bona fide sale of mines, oil or gas wells, or any interest therein, where the principal value of the property has been demonstrated by prospecting or exploration and discovery work done by the taxpayer...
Page 138 - ... (A) In the case of coal — cleaning, breaking, sizing, dust allaying, treating to prevent freezing, and loading for shipment; (B) in the case of sulfur recovered by the Frasch process — cleaning, pumping to vats, cooling, breaking, and loading for shipment ; (C) in the case of iron ore, bauxite, ball and sagger clay, rock asphalt, and ores or minerals which are customarily sold in the form of a crude mineral product...
Page 141 - ... (D) in the case of lead, zinc, copper, gold, silver, or fluorspar ores, potash, and ores which are not customarily sold in the form of the crude mineral product — crushing, grinding, and beneficiation by concentration (gravity, flotation; amalgamation, electrostatic, or magnetic), cyanidation, leaching, crystallization, precipitation (but not including as an ordinary treatment process electrolytic deposition, roasting, thermal or electric smelting, or refining), or by substantially...
Page 266 - ... ordinary treatment process electrolytic deposition, roasting, thermal or electric smelting, or refining), or by substantially equivalent processes or combination of processes used in the separation or extraction of the product or products from the ore, including the furnacing of quicksilver ores; and (E) The pulverization of talc, the burning of magnesite, and the sintering and nodulizing of phosphate rock.