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" In the case of oil and gas wells the allowance for depletion under section 23 (m) shall be 27% per centum of the gross income from the property during the taxable year, excluding from such gross income an amount equal to any rents or royalties paid or... "
The Code of Federal Regulations of the United States of America Having ... - Page 297
1939
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U.S. Tax Cases, Volume 66, Issue 2

Commerce Clearing House - Income tax - 1967
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Federal supplement. [First Series.], Volume 257

1967
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Legislative History of the Internal Revenue Code of 1954 ..., Volumes 8-11

Floyd Morse Hubbard, United States. Congress. Joint Committee on Internal Revenue Taxation - Government publications - 1967 - 1374 pages
...section 611 shall be the percentage, specified in subsection (b), of the gross income from the property excluding from such gross income an amount equal to...of the property. Such allowance shall not exceed 50 percent of the taxpayer's taxable income from the property (computed without allowance for depletion)....
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Reports of the Tax Court of the United States, Volume 24

United States. Tax Court - Taxation - 1956
...27*4 per centum of the gross Income from the property during the taxable year, excluding from Rucb gross Income an amount equal to any rents or royalties...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...
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Reports of the Tax Court of the United States, Volume 3

United States. Tax Court - Taxation - 1945
...— In the case of oil. ana gas wells the allowance for depletion under section 23 (m) shall be 27% per centum of the gross Income from the property during...respect of the property. Such allowance shall not exceed 60 per centum of the net Income of the taxpayer (computed without allowance for depletion) from the...
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Reports of the Tax Court of the United States, Volume 11

United States. Tax Court - Taxation - 1948
...— In the case of oil and gas wells the allowance for depletion under section 23 (m) shall be 27% per centum of the gross Income from the property during...Incurred by the taxpayer In respect of the property. • • • * In the form effective prior to October, 1944, the text was as follows : "(f) 'Gross Income...
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Reports of the Tax Court of the United States, Volume 10

United States. Tax Court - Taxation - 1949
...of the gross Income from the property during the taxable year, excluding from such gross Income ao amount equal to any rents or royalties paid or Incurred...not exceed 50 per centum of the net Income of the taxpayei (computed without allowance for depletion) from the property, except that In no case shall...
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Oil and Gas: Federal Income Taxation, Issue 1

Kenneth G. Miller - Income tax - 1969 - 509 pages
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