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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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General Revenue Revision: Hearings Before the Committee on Ways and Means ...

United States. Congress. House. Committee on Ways and Means - Taxation - 1958 - 3588 pages
...section 611 shall bt» the percentage, specified in subsection (b), of the gross Income from the property excluding from such gross income an amount equal to...respect of the property. Such allowance shall not exceed 30 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 31

United States. Tax Court - Law reports, digests, etc - 1959
...and gas wells the allowance for depletion under section 23 (m) shall be 27 Vi per centum of the grow Income from the property during the taxable year,...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 31

United States. Tax Court - Law reports, digests, etc - 1959
...In the case of oil and gas wells the allowance for depletion under section 23 (m) shall be 27H l"'r centum of the gross Income from the property during...rents or royalties paid or Incurred by the taxpayer In ren|>ect of the property. Such allowance shall not exceed 50 per centum of the net Income of the taxpayer...
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Internal Revenue Bulletin

United States. Internal Revenue Service - Tax administration and procedure - 1959
...section Oil shall be the percentage, specified in subsection (b), of the gross income from the property, the calendar year. Unless such a disclosure is made the record owner percent of the taxpayer's taxable income from the property (computed without allowance for depletion)....
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Mineral Treatment Processes for Percentage and Depletion Purposes: Hearings ...

United States. Congress. House. Committee on Ways and Means - Depletion allowances - 1959 - 306 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 .J (computed without allowance for depletion)....
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Reports of the Tax Court of the United States, Volume 33

United States. Tax Court - Taxation - 1961
...limestone • • • 15 per centum, • • • • ••••• • of the gross Income from tbe property during the taxable year, excluding from such...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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Internal Revenue Code of 1954, as Amended and in Force on January 3, 1961

United States, United States. Congress. Joint Committee on Internal Revenue Taxation - Taxation - 1961 - 1148 pages
...section 611 shall be the percentage, specified in subsection (b), of the gross income from the property $1,800, elf- percent of the taxpayer's taxable income from the property (computed without allowance for depletion)....
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Code of Federal Regulations: Containing a Codification of Documents of ...

Administrative law - 1961
...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 33

United States. Tax Court - Law reports, digests, etc - 1961
...excluding from Buch gross income an amount equal to any rents or royalties paid or incurred by tbe taxpayer in respect of the property. Such allowance...without allowance for depletion) from the property, except that in no caae shall the depletion allowance under section 23(m) be less than It would be If...
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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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