Tax Aspects of President Carter's Energy Program: Hearings Before the Committee on Ways and Means, House of Representatives, Ninety-fifth Congress, First Session ....U.S. Government Printing Office, 1977 |
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additional American American Petroleum Institute areas Association automobile average capital cars Chairman coal Committee companies Congress consumer consumption controls cost crude oil deduction depletion deregulation DUNCOMBE economic effect efficiency electric power electric utility energy conservation energy policy equalization tax equipment estimated existing exploration facilities Federal Fisher Body fuel economy gas guzzler gas guzzler tax gas prices gas production gasoline tax geothermal going heating oil impact important incentives income increase independent producers industry installation insulation intangible drilling investment legislation manufacturers million minimum tax motor National Energy Act National Energy Plan natural gas oil and gas oil and natural oil prices OPEC operating percent petroleum plants potential President President's problem proposed rebate reduce reserves residential result revenue rigs SECREST solar energy sources standards statement supply tax credit taxable Thank tion United users voltage WAGGONNER wellhead
Popular passages
Page 57 - In the case of property held by one person for life with remainder to another person, the deduction shall be computed as if the life tenant were the absolute owner of the property and shall be allowed to the life tenant.
Page 56 - An application for a certificate must be filed at such time and in such manner as may be prescribed by such certifying authority under such regulations, but in no event shall such certificate have any effect unless an application therefor is filed before...
Page 593 - Examples of items to which this option applies are, all amounts paid for labor, fuel, repairs, hauling, and supplies, or any of them, which are used...
Page 57 - ... shall be increased by such amount, but such deduction on account of such month shall not be in excess of the adjusted basis of the emergency facility as of the end of such month (computed without regard to any amount allowable, on account of such month, under section 167 or this paragraph) . (h) Life tenant and remainderman.
Page 56 - The 60-month period shall begin as to any solar energy facility, at the election of the taxpayer, with the month following the month in which the facility was completed or acquired, or with the succeeding taxable year.
Page 593 - In the construction of such derricks, tanks, pipelines, and other physical structures as are necessary for the drilling of wells and the preparation of wells for the production of oil or gas.
Page 57 - ... (3) Separate facilities; special rule. After the completion or acquisition of any emergency facility with respect to which a certificate under paragraph (1) or (2) has been made, any expenditure (attributable to such facility and to the period after such completion or acquisition) which does not represent construction, reconstruction, erection, Installation, or acquisition Included in such certificate, but with respect to which a separate certificate Is made under paragraph (1...
Page 57 - President as compensation to the taxpayer for the unamortized cost of the emergency facility made because — (A) A contract with the United States involving the use of the facility has been terminated by its terms or by cancellation, or (B) The taxpayer had reasonable ground (either from provisions of a contract with the United States involving the use of...
Page 56 - ... acquired, or with the taxable year succeeding the taxable year in which such...
Page 45 - An allowance for depletion has been recognized in our revenue laws since 1913. It is based on the theory that the extraction of minerals gradually exhausts the capital investment in the mineral deposit.