Deskins v. Commissioner
United States Tax Court
P disposed of coal by a contract entitled "Coal Lease" under which she will receive a tonnage royalty of $ 1 per ton of coal mined. However, P will not receive more than $ 4.3 million even if more than 4.3 million tons of coal are mined. Under the contract, P will receive an annual minimum royalty of $ 430,000 per year for 10 years. Any tonnage royalty P receives during a year is credited against the annual minimum royalty for the year.
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P disposed of coal by a contract entitled "Coal Lease" under which she will receive a tonnage royalty of $ 1 per ton of coal mined. However, P will not receive more than $ 4.3 million even if more than 4.3 million tons of coal are mined. Under the contract, P will receive an annual minimum royalty of $ 430,000 per year for 10 years. Any tonnage royalty P receives during a year is credited against the annual minimum royalty for the year. If the tonnage royalty due during a year exceeds the annual minimum royalty for the year, the excess is recouped against any annual minimum royalty paid in…
1Opinion of the Court
Hazel Deskins, Petitioner v. Commissioner of Internal Revenue, Respondent
Deskins v. Commissioner
Docket No. 4302-84
United States Tax Court
87 T.C. 305; 1986 U.S. Tax Ct. LEXIS 66; 87 T.C. No. 19;
August 11, 1986, Filed
Decision will be entered under Rule 155.
P disposed of coal by a contract entitled "Coal Lease" under which she will receive a tonnage royalty of $ 1 per ton of coal mined. However, P will not receive more than $ 4.3 million even if more than 4.3 million tons of coal are mined. Under the contract, P will receive an annual minimum royalty of $ 430,000 per year for 10 years. Any…
2Cases cited26 opinions
- Neely v. CommissionerUnited States Tax Court · 1985
- Burnet v. HarmelSupreme Court of the United States · 1932
- Palmer v. BenderSupreme Court of the United States · 1932
- Commissioner v. P. G. Lake, Inc.Supreme Court of the United States · 1958
- Commissioner v. Southwest Exploration Co.Supreme Court of the United States · 1956
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