 | George Edwin Holmes - 1919 - 1052 pages
...personal exemption are not deducted.9 LIMITATION IN CASE OF SALES OF MINES. OIL OR GAS WELLS. In the case of a bona fide sale of mines, oil or gas wells,...exploration and discovery work done by the taxpayer the surtax attributable to such sale cannot exceed 20% of the selling price.10 Exploration work alone without... | |
 | 1919 - 344 pages
...— • In the case of a bona fide sale oí mines, oil or gas wells, or any interest therein, when the principal value of the property has been demonstrated...worK done by the taxpayer, the portion of the tax Impos.-d by this section attributable to such sale shall not exceed 20 per centum of the selling price... | |
 | George Edwin Holmes - 1919 - 1048 pages
...exceed $1,000,000; 65 per centum of the amount by which the net income exceeds $1,000,000. (b) In the case of a bona fide sale of mines, oil or gas wells,...therein, where the principal value of the property has lieen demonstrated by prospecting or exploration and discovery work done by the taxpayer, the portion... | |
 | Guaranty Trust Company of New York - 1919 - 664 pages
...placed a limitation on the tax on the sale of mines, oil or gas wells. The law provides that in the case of a bona fide sale of mines, oil or gas wells, or any interest therein, where the taxpayer, by prospecting and locating claims, or by exploring and discovering undeveloped claims, has... | |
 | United States. Internal Revenue Service - 1919 - 168 pages
...in order to take advantage of this clause in the law must prove — (a) A bona fide sale. (b) That the principal value of the property has been demonstrated by prospecting or exploration and development work done by the taxpayer. This benefit will accrue only to the holdings of the taxpayer... | |
 | Harris, Forbes & co., New York - 1919 - 164 pages
...exceed $1,000,000; 65 per centum of the amount by which the net income exced $1,000,000. (b) In the case of a bona fide sale of mines, oil or gas wells, any interest therein, where the principal value of the property has bee demonstrated by prospecting... | |
 | National City Company, United States - 1919 - 104 pages
...bona fide sale been demonstrated by prospecting or exploration and discovery work of mines, oil or done by the taxpayer, the portion of the tax imposed by this Section gas wells. (par. Jj3) attributable to such sale shall not exceed 20 per centum of the selling... | |
 | United States. Bureau of Internal Revenue - 1920 - 346 pages
...ON INDIVIDUALS. 65 per centum of the amount by which the net income exceeds $1,000,000. (b) In the case of a bona fide sale of mines, oil or gas wells,...the taxpayer, the portion of the tax imposed by this section attributable to such sale shall not exceed 20 per centum of the selling price of such property... | |
 | United States - 1920 - 1054 pages
...65 per centum of the amount by which the net income exceeds $1,000,000. (b) In the case of a b<>na fide sale of mines, oil or gas wells, or any interest...the taxpayer, the portion of the tax imposed by this section attributable to such sale shall not exceed 20 per centum of the selling price of such property... | |
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In the case of a bona fide sale of mines, oil or gas wells, or any interest therein, where the principal value of the property has been demonstrated by prospecting or exploration and discovery work done by the taxpayer... 
