Licensees and economic interest in minerals after Swank and revenue ruling 83-160
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
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017000* -- Coal
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29 ENERGY PLANNING, POLICY, AND ECONOMY
290200 -- Energy Planning & Policy-- Economics & Sociology
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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