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" ... such disposal, by the owner thereof under any form or type of contract by virtue of which such owner retains an economic Interest In such timber, the difference between the amount realized from the disposal of such timber and the adjusted depletion... "
Internal Revenue Cumulative Bulletin - Page 481
by United States. Internal Revenue Service - 1981
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The Internal Revenue Code of 1954: Hearings Before the Committee on ..., Part 1

United States. Congress. Senate. Committee on Finance - 1954 - 2443 pages
...of such timber or coal and the adjusted depletion basis thereof plus the deductions disallowed for the taxable year under section 272 shall be considered...though it were a gain or loss, as the case may be [upon] on the sale of such timber or coal. Such owner shall not be entitled to the allowance for percentage...
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Mineral Treatment Processes for Percentage and Depletion Purposes: Hearings ...

United States. Congress. House. Committee on Ways and Means - 1959 - 306 pages
...the disposal of such coal and the adjusted depletion basis thereof plus the deductions disallowed for the taxable year under section 272 shall be considered...loss, as the case may be, on the sale of such coal. Such owner shall not be entitled to the allowance for percentage depletion provided in section 613...
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Mineral Treatment Processes for Percentage and Depletion Purposes: Hearings ...

United States. Congress. House. Committee on Ways and Means - 1959 - 306 pages
...the disposal of such coal and the adjusted depletion basis thereof plus the deductions disallowed for the taxable year under section 272 shall be considered...loss, as the case may be, on the sale of such coal. Such owner shall not be entitled to the allowance for percentage depletion provided in section 613...
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Code of Federal Regulations: Containing a Codification of Documents of ...

1961
...between the amount realized from the disposal of such timber and the adjusted depletion basis thereof, shall be considered as though it were a gain or loss, as the case may be, on the sale of such timber. In determining the gross income, the adjusted gross income, or the taxable income of the lessee,...
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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 - 1961 - 1148 pages
...between the amount realized from the disposal of such timber and the adjusted depletion basis thereof, timber. In determining the gross income, the adjusted gross income, or the taxable income of the lessee,...
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President's 1963 Tax Message: Hearings Before the Committee on Ways and ...

United States. Congress. House. Committee on Ways and Means - 1963 - 4036 pages
...the difference between the amount received for such timber and the adjusted depletion basis thereof shall be considered as though it were a gain or loss, as the case may be, upon the sale of such timber." FOBEST MANAGEMENT EXPENSES MAT BE DEDUCTED Seasonable deductions have...
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President's 1963 Tax Message: Hearings Before the Committee on Ways and ...

United States. Congress. House. Committee on Ways and Means - 1963 - 4036 pages
...difference between the amount received for such timber or coal and the adjusted depletion basis thereof shall be considered as though it were a gain or loss, as the case may be, upon the sale of such timber or coal. Such owner shall not be entitled to the allowance for percentage...
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Revenue Act of 1963: Hearings Before the Committee on Finance, United States ...

United States. Congress. Senate. Committee on Finance - 1968
...of the substance of the existing sentence in code section 631 (c) applicable to coal, which reads: "This subsection shall not apply to income realized by any owner as a coadveuturer, partner, or principal in the mining of such coal * * *." [Italic ours.] The remaining...
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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 - 1967 - 1374 pages
...the disposal of such coal and the adjusted depletion basis thereof plus the deductions disallowed for the taxable year under section 272 shall be considered...loss, as the case may be, on the sale of such coal. Such owner shall not be entitled to the allowance for percentage depletion provided in section 613...
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Internal Revenue Cumulative Bulletin

United States. Internal Revenue Service - 1978
...between the amount realized from the disposal of such timber and the adjusted depletion basis thereof, shall be considered as though it were a gain or loss, as the case may be, on the sale of such timber. Section 1.611-l(b)(l) of the Income Tax Regulations provides that an economic interest is possessed...
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