Nielson-True Pshp. v. Commissioner
United States Tax Court
P owned an interest in two wells in the same tight formation gas field. The field had been established under statutory procedures as a tight formation field. One well had been certified as producing tight formation gas under the established Federal statutory procedures, and the other had not. Congress provided a tax credit incentive to develop, among other fuels, tight formation gas.
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P owned an interest in two wells in the same tight formation gas field. The field had been established under statutory procedures as a tight formation field. One well had been certified as producing tight formation gas under the established Federal statutory procedures, and the other had not. Congress provided a tax credit incentive to develop, among other fuels, tight formation gas. Sec. 29(c) (2) (A), I.R.C., requires that, as a prerequisite to the credit, "the determination of whether any gas is produced from * * * a tight formation shall be made in accordance with section 503 of the…
1Opinion of the Court
NIELSON-TRUE PARTNERSHIP, TRUE OIL COMPANY, TAX MATTERS PARTNER, Petitioner v. COMMISSIONER OF INTERNAL REVENUE, Respondent
Nielson-True Pshp. v. Commissioner
Docket Nos. 12069-95, 3980-96
United States Tax Court
109 T.C. 112; 1997 U.S. Tax Ct. LEXIS 57; 109 T.C. No. 6; 138 Oil & Gas Rep. 229;
September 9, 1997, Filed
Decisions will be entered for respondent.
P owned an interest in two wells in the same tight formation gas field. The field had been established under statutory procedures as a tight formation field. One well had been certified as producing tight formation gas under the established…
2Cases cited23 opinions
- United States v. American Trucking AssociationsSupreme Court of the United States · 1940
- United States v. LockeSupreme Court of the United States · 1985
- Crane v. CommissionerSupreme Court of the United States · 1947
- Commissioner v. BrownSupreme Court of the United States · 1965
- Malat v. RiddellSupreme Court of the United States · 1966
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