Cases and Materials on the Federal Income Taxation of Oil and Gas and Natural Resources Transactions
Extensive coverage of federal income taxation issues relating uniquely to minerals. The basic tax topic approach is applied to depletion and related matters; lease; sale and exchange of mineral properties and production payments; and expenses of mineral operations. A transactional viewpoint is taken regarding sharing arrangements, pooling, and unitization.
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DEPLETION AND RELATED MATTERS A History and Nature of the Depletion Allowance
B Prerequisites for Depletion
30 other sections not shown
acquired adjusted basis aggregates agreement allocated amount applied area of interest asset assignment Bankline basis Cannelton capital gain capital investment carrying party cash coal Commissioner computing contract contractors corporation cost depletion Cotter Corporation depletion allowance depletion deduction determined development costs drilling and development drilling costs economic interest election entitled equipment expenditures expenses exploration extraction gas lease gross income Helvering income from property income tax incurred intangible drilling Internal Revenue Code Juneau Kansas River L.Ed land leasehold lessee lessor limited ment mineral deposit mineral in place mineral interests mineral property minimum royalty mining oil and gas oil payment operating interest option ordinary income paid percent percentage depletion petitioner petitioner's plaintiff proceeds production payment Prop.Reg provides purchase received recoupment regulations retained Rev.Rul S.Ct sand and gravel separate mineral separate property share supra Tax Court taxable income taxpayer tion transaction transfer treated treatment United Winkler County