G. & W. H. Corson, Inc. v. Commissioner
United States Tax Court
Held: 1. The 5-percent depletion rate provided for in sec. 613(b)(7), I.R.C. 1954, is applicable to dolomitic limestone used by petitioner as an aggregate in the manufacture of Poz-O-Pac, a patented product, which is used primarily as a base for roads, even though there is some chemical reaction between the dolomitic limestone and another ingredient in Poz-O-Pac. 2. The 5-percent depletion rate provided for in sec. 613(b)(7) is applicable to the pulverized dolomitic…
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Held: 1. The 5-percent depletion rate provided for in sec. 613(b)(7), I.R.C. 1954, is applicable to dolomitic limestone used by petitioner as an aggregate in the manufacture of Poz-O-Pac, a patented product, which is used primarily as a base for roads, even though there is some chemical reaction between the dolomitic limestone and another ingredient in Poz-O-Pac. 2. The 5-percent depletion rate provided for in sec. 613(b)(7) is applicable to the pulverized dolomitic limestone used as an aggregate in the manufacture of petitioner's masonry cement even though there is some chemical reaction…
1Opinion of the Court
G. & W. H. Corson, Inc., Petitioner v. Commissioner of Internal Revenue, Respondent
G. & W. H. Corson, Inc. v. Commissioner
Docket Nos. 6365-65, 6334-66
United States Tax Court
54 T.C. 668; 1970 U.S. Tax Ct. LEXIS 175;
March 30, 1970, Filed
Decision will be entered under Rule 50.
Held: 1. The 5-percent depletion rate provided for in sec. 613(b)(7), I.R.C. 1954, is applicable to dolomitic limestone used by petitioner as an aggregate in the manufacture of Poz-O-Pac, a patented product, which is used primarily as a base for roads, even though there is some chemical reaction between the dolomitic…
2Cases cited8 opinions
- Virginian Limestone Corp. v. CommissionerUnited States Tax Court · 1956
- South Jersey Sand Company v. Commissioner of Internal RevenueCourt of Appeals for the Third Circuit · 1959
- Spencer Quarries, Inc. v. CommissionerUnited States Tax Court · 1956
- Commissioner of Internal Revenue v. Quartzite Stone CompanyCourt of Appeals for the Tenth Circuit · 1959
- Quartzite Stone Co. v. CommissionerUnited States Tax Court · 1958
3 more not listed; retrieve them via the Exa API.