Legal Opinion
Herring v. Commissioner
Supreme Court of the United States
Decided December 3, 1934No. Nos. 176 and 177PublishedCited by 110 opinions
1Opinion of the CourtJustice Roberts
The petitioners are husband and wife and the income which gives rise to this controversy is derived from community property. We are to determine whether, in computing net income under the Revenue Act of 1926, they were entitled to deduct from advance royalty or bonus received upon the execution of oil and’ gas leases the statutory percentage allowance for depletion, it appearing that there was no production when the leases were made, or at any time within the taxable year.
The petitioners’ community estate held a half interest in a partnership whose principal business was cattle raising. The…
2Cases cited5 opinions
- Burnet v. HarmelSupreme Court of the United States · 1932
- Palmer v. BenderSupreme Court of the United States · 1932
- Murphy Oil Co. v. BurnetSupreme Court of the United States · 1932
- United States v. Dakota-Montana Oil Co.Supreme Court of the United States · 1933
- Burnet v. Thompson Oil & Gas Co.Supreme Court of the United States · 1931
3Cited by110 opinions
- Commissioner v. EngleSupreme Court of the United States · 1984
- McFaddin v. CommissionerUnited States Tax Court · 1943
- Burns v. BastienSupreme Court of Oklahoma · 1935
- Sunray Oil Co. v. Commissioner of Internal RevenueCourt of Appeals for the Tenth Circuit · 1945
- Commissioner of Internal Revenue v. FlemingCourt of Appeals for the Fifth Circuit · 1936
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