Percentage depletion for the controlled transferee corporation

Journal Article · Mon Mar 01 04:00:00 EST 1982 · Oil Gas Tax Q.; (United States)

OSTI ID:5520102

West, W L

On December 28, 1980, Public Law No. 96-603, the Miscellaneous Tax Act of 1980, which amended Internal Revenue Code Section 613A went into effect. This amendment provides a limited exception to Section 613 A (c) (9) which in part disallows percentage depletion on production from properties which have been transferred by an individual to his controlled corporation. This article provides an analysis and explanation of this exception to the percentage depletion transfer rules. The requirements to meet the amendment are included. (DP)

• Research Organization: Arthur Young and Co., Dallas, TX
• OSTI ID: 5520102
• Journal Information: Oil Gas Tax Q.; (United States), Journal Name: Oil Gas Tax Q.; (United States) Vol. 30:3; ISSN OGTQD
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
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29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294002 -- Energy Planning & Policy-- Petroleum
DEPLETION ALLOWANCES
FINANCIAL INCENTIVES
INDUSTRY
NATURAL GAS INDUSTRY
PETROLEUM INDUSTRY