Licensees and economic interest in minerals after Swank and revenue ruling 83-160

Journal Article · Sat Jan 01 04:00:00 EST 1983 · Ky. Law J.; (United States)

OSTI ID:5767288

McMahon, Jr, M J

In the three years since the Supreme Court decided in United States v. Swank that a coal operator mining a coal deposit under a written lease terminable without cause on 30 days notice held an economic interest in the mineral in place, tax literature began noting that this decision rejected a long-held position of the Internal Revenue Service (IRS). The author assesses the impact of Revenue Ruling 83-88, in which the IRS went beyond Swank in concluding that there is no minimum period during which a lessee must have a legal right to extract minerals as a prerequisite to an economic interest. He examines the proposition that, after Swank and Revenue Ruling 83-160, licensees who previously were considered not to have acquired an economic interest, should now be found to have an economic interest in the mineral deposit they are extracting.

• Research Organization: Univ. of Kentucky, Lexington
• OSTI ID: 5767288
• Journal Information: Ky. Law J.; (United States), Journal Name: Ky. Law J.; (United States) Vol. 72:4; ISSN KYLJA
• Country of Publication: United States
• Language: English

Related Subjects

01 COAL, LIGNITE, AND PEAT
017000* -- Coal
Lignite
& Peat-- Legislation & Regulations
29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
294001 -- Energy Planning & Policy-- Coal
CASE LAW
COAL MINING
ECONOMIC POLICY
GOVERNMENT POLICIES
INDUSTRY
LAND LEASING
LAWS
LEASES
LEASING
LEGAL ASPECTS
MINERAL INDUSTRY
MINING
NATIONAL ORGANIZATIONS
US DEPARTMENT OF TREASURY
US IRS
US ORGANIZATIONS