Paulson v. Commissioner
United States Board of Tax Appeals
The owner, now deceased, of the right to receive royalties of an oil and gas lease unconditionally assigned certain undivided interests therein to his children. The assignees received all production from the interests so assigned. Held, that the income resulting from such production is not taxable to the assignor.
1Opinion of the Court
WILLIAM I. PAULSON AND CHARLES H. PAULSON, EXECUTORS, ESTATE OF PEDER PAULSON, PETITIONERS, v. COMMISSIONER OF INTERNAL REVENUE, RESPONDENT.
Paulson v. Commissioner
Docket No. 13571.
United States Board of Tax Appeals
10 B.T.A. 732; 1928 BTA LEXIS 4040;
February 14, 1928, Promulgated
The owner, now deceased, of the right to receive royalties of an oil and gas lease unconditionally assigned certain undivided interests therein to his children. The assignees received all production from the interests so assigned. Held, that the income resulting from such production is not taxable to the assignor.
Glenn…
2Cases cited1 opinion
- Paulson v. CommissionerUnited States Board of Tax Appeals · 1928