This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...to 1918 is worked out on the same basis as that of later years, with differing rates, the Income Tax Law applying to 1916 and 1917 has one important difference, namely, that the depletion allowance to the lessee is allowed only on cost, not on appraisal value, and that there is no discovery appraisal ...
Read More
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 edition. Excerpt: ...to 1918 is worked out on the same basis as that of later years, with differing rates, the Income Tax Law applying to 1916 and 1917 has one important difference, namely, that the depletion allowance to the lessee is allowed only on cost, not on appraisal value, and that there is no discovery appraisal right. In the case of the lessor, however, depletion allowances may be based as in the law of 1918 with reference to appraisal of March 1, 1913, but not discoveries. Note, however, that discoveries made in 1917 and as far back as March 1, 1913 are permitted for purposes of calculating the tax for 1918 and thereafter. The laws applying to 1913, 1914 and 1915 grant an allowance for depletion only to the extent of 5 per cent of the gross value of the product. The law does not permit us to go back and redress this deficiency, although this allowance is now admitted to be inadequate. It is necessary to take off a sustained depletion in calculating the tax for later years, even though it was not allowed at the time. Moreover, this 5 per cent limit does not apply to the depletion of invested capital. Conclusion.--Oil companies must realize the great amount of labor required merely to hunt up the data necessary to fill in the oil questionnaire and its supporting blanks for each producing lease, entirely aside from the technical matters of establishing proper valuation, recognizing which wells have the discovery right, evaluating these discoveries properly, and working out the rate of depletion. The task commands vastly more attention than has heretofore been given to taxation. Preparations for it should be made throughout the year, and, when necessary, methods of management and accounting should be so changed as to make possible the preparation of an...
Read Less
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
New. Sewn binding. Cloth over boards. 272 p. In Stock. 100% Money Back Guarantee. Brand New, Perfect Condition, allow 4-14 business days for standard shipping. To Alaska, Hawaii, U.S. protectorate, P.O. box, and APO/FPO addresses allow 4-28 business days for Standard shipping. No expedited shipping. All orders placed with expedited shipping will be cancelled. Over 3, 000, 000 happy customers.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
Choose your shipping method in Checkout. Costs may vary based on destination.
Seller's Description:
PLEASE NOTE, WE DO NOT SHIP TO DENMARK. New Book. Shipped from UK in 4 to 14 days. Established seller since 2000. Please note we cannot offer an expedited shipping service from the UK.
