Manual for the Oil and Gas Industry Under the Revenue Act of 1918U.S. Government Printing Office, 1921 - 245 էջ |
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Այլ խմբագրություններ - View all
Manual for the Oil and Gas Industry Under the Revenue Act of 1918 United States. Internal Revenue Service Ամբողջությամբ դիտվող - 1919 |
Manual for the Oil and Gas Industry Under the Revenue Act of 1918 United States. Internal Revenue Service Ամբողջությամբ դիտվող - 1919 |
Manual for the Oil and Gas Industry Under the Revenue Act of 1918 United States. Internal Revenue Service Ամբողջությամբ դիտվող - 1919 |
Common terms and phrases
acres amount anticline average average able average average recover average average remaining average curve average future production average production average production-decline curve average remaining average remaining able average remaining Produc average well recover Bartlesville Bartlesville sand Baumé Burkburnett Caddo capital sum cent cost curves and tables decline curve deductions depth discovery drilled Eastland County economic in barrels economic limit equipment Estimated average average ESTIMATED AVERAGE FUTURE Estimated average recover Estimated Estimated average Estimated Estimated Estimated Estimated Estimated Produc Estimated Estimated tion estimated future production fair market value field future production curves Gordon sand gravity ground reserves ground taxable individual well records Lima district limestone Marion Ohio oil and gas oil or gas Okla Osage County Pawnee County pressure production records range recoverable Regulations 45 Stephens County taxable able taxable recover taxpayer tion per average tion per Estimated township tract or lease tract records Trenton limestone zone
Սիրված հատվածներ
Էջ 14 - The necessity for a depreciation allowance arises from the fact that certain property used in the business gradually approaches a point where its usefulness is exhausted. The allowance should be confined to property of this nature. In the case of tangible property, it applies to that which is subject to wear and tear, to decay or decline from natural causes, to exhaustion, and to obsolescence due to the normal progress of the art or to becoming inadequate to the growing needs of the business.
Էջ 18 - That in the case of mines, oil and gas wells, discovered by the taxpayer, on or after March 1, 1913, and not acquired as the result of purchase of a proven tract or lease...
Էջ 12 - States) ; (3) estate, inheritance, legacy, succession and gift taxes; and (4) taxes assessed against local benefits of a kind tending to increase the value of the property assessed...
Էջ 42 - The annual production of the deposit or of the individual wells, if the latter information Is available, from the beginning of its productivity to the end of the taxable year, the average number of wells producing during each year, and the initial daily production of each well (the extent to which oil or gas is used for fuel on the premises should be stated with reasonable...
Էջ 23 - In estimating the average grade of the developed and prospective mineral, account should be taken of probable increases or decreases as indicated by the operating history. The rate of exhaustion of a mineral deposit should be determined with due regard to the limitations imposed by plant capacity, by the character of the deposit, by the ability to market the mineral product, by labor conditions, and by the operating program in force or reasonably to be expected for future operations. The operating...
Էջ 21 - ... or leasehold was acquired, the owner or lessee will be required to show that the cost or price at which the property was bought was fixed for the purpose of a bona fide purchase and sale, by which the property passed in fact as well as in form to an owner other than the vendor.
Էջ 24 - The value should, however, be corrected when a virtual change of ownership of part of the property results as the outcome of litigation. The value should be redistributed — (a) If a revision of the...
Էջ 14 - For convenience such an allowance will usually be referred to as depreciation, excluding from the term any idea of a mere reduction in market value not resulting from exhaustion, wear and tear, or obsolescence.
Էջ 30 - In the selection of a unit of mineral for depletion, preference shall be given to the principal or customary unit or units paid for in the products sold, such as tons of ore, barrels of oil, or thousands of cubic feet of natural gas. As used in this section the phrase "number of units sold within the taxable year...
Էջ 18 - Section 23 (m) provides that there shall be allowed as a deduction in computing net income in the case of mines, oil and gas wells, other natural deposits, and timber, a reasonable allowance for depletion and for depreciation of improvements.