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DRAFT FOR ATTORNEY REVIEW — NOT FINAL

Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)

Citation
Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
Parent Document
Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
Jurisdiction
Kentucky (state)
Effective Date
1994-01-28

Other Sections in This Document (31)

Full Text

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26 U.S.C. § 611 states as follows: “In the case of mines, ... there shall be allowed as a deduction in computing taxable income a reasonable allowance for depletion and for depreciation of improvements, according to the peculiar conditions in each case.” The Code of Federal Regulations defines “economic interest” at 26 C.F.R. § 1.611 — 1(b)(1) as follows: