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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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United States Code: Containing the General and Permanent Laws of the United ...

United States - Law - 1964
...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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United States Code

United States - Law - 1965
...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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Revenue Act of 1942: Hearings Before the Committee on Finance ..., Volume 2

United States. Congress. Senate. Committee on Finance - Finance - 1942 - 2376 pages
...from the property during the taxable year, excluding from such gross income an amount equal to nny rents or royalties paid or incurred by the taxpayer...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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Revenue Act of 1942. Hearings ... on H.R. 7378

United States U.S. Congress. Senate. Committee on finance - 1942
...the property during the taxable year, excluding from such gross income an amount equal to any reuts or royalties paid or incurred by the taxpayer in respect...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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Federal Income, Estate and Gift Tax Laws, Correlated

United States, Walter Elbert Barton - Gifts - 1944 - 1242 pages
...computed without reference to this paragraph. Sec. 114. (b) (4) Percentage depletion for coal and metal mines and sulphur. — The allowance for depletion...taxpayer in respect of the property. Such allowance >hall not exceed 50 per centum of the net income of the taxpayer (computed without allowance for depletion)...
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Individual Income Tax Provisions of the Internal Revenue Code: Applicable to ...

United States. Congress. Joint Committee on Internal Revenue Taxation - Government publications - 1944 - 312 pages
...lepidolite, spodumene, barite, ball and sagger clay, or rock asphalt mines, and potash mines or deposits, 15 per centum, and in the case of sulphur mines or...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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United States Congressional Serial Set

United States - 1944
...lepidolite, spodumene, barite,ball and sagger clay, or rock asphalt mines, and potash mines or deposits, 15 per centum, and in the case of sulphur mines or...incurred by the taxpayer in respect of the property." (b) DISCOVERY VALUE. — Section 114 (b) (2) (relating to discovery value) is amended by inserting...
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Individual Income Tax Provisions of the Internal Revenue Code (second ...

United States. Congress. Internal Revenue Taxation Joint Committee - 1945 - 312 pages
...lepidolite, spodumene, barite, ball and sagger clay, or rock asphalt mines, and potash mines or deposits, 15 per centum, and in the case of sulphur mines or...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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Individual Income Tax Provisions of the Internal Revenue Code: Applicable to ...

United States. Congress. Joint Committee on Internal Revenue Taxation - Income tax - 1946 - 385 pages
...lepidolite, spodumene, barite, ball and sagger clay, or rock asphalt mines, and potash mines or deposits, 15 per centum, and in the case of sulphur mines or...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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United States Reports: Cases Adjudged in the Supreme Court at ..., Volume 326

United States. Supreme Court - Law reports, digests, etc - 1946
...— 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. . . ." KIRBY PETROLEUM CO. v. COMM'R. 601 599 Opinion of the Court. allowance of 27Va per centum of...
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