Legal Opinion
Fred W. Alkire and Lois O. Alkire v. Robert A. Riddell
Court of Appeals for the Ninth Circuit
Decided July 8, 1968No. 22070PublishedCited by 9 opinions
1Opinion of the Court
SOLOMON, District Judge:
The issue involved in this appeal is whether royalty payments based upon the extraction of sand and gravel are entitled to capital gains treatment or whether, as the District Court found, they are ordinary income subject to the depletion allowance.
Beginning in December, 1954, Fred W. Alkire (the taxpayer) 1 conducted a sand and gravel business on leased property. In the summer of 1955, Star Rock Products, Inc., acquired this business. It paid the taxpayer $60,000 for his rock crush ing plant, truck scales, and other leasehold improvements. The taxation of this income…
2Cases cited9 opinions
- Palmer v. BenderSupreme Court of the United States · 1932
- Burton-Sutton Oil Co. v. CommissionerSupreme Court of the United States · 1946
- Anderson v. HelveringSupreme Court of the United States · 1940
- Commissioner v. Southwest Exploration Co.Supreme Court of the United States · 1956
- Nathaniel C. Wood and Gertrude L. Wood v. United StatesCourt of Appeals for the Fifth Circuit · 1967
4 more not listed; retrieve them via the Exa API.
3Cited by9 opinions
- Pleasanton Gravel Co. v. CommissionerUnited States Tax Court · 1975
- James A. Rutledge and Mattie L. Rutledge v. United StatesCourt of Appeals for the Fifth Circuit · 1970
- The Hartman Tobacco Company v. United StatesCourt of Appeals for the Second Circuit · 1973
- Edith M. Belknap and Kentucky Trust Company, of the Estate of William B. Belknap, Deceased v. United StatesCourt of Appeals for the Sixth Circuit · 1969
- Estate of Marian H. Walker, Deceased v. Commissioner of Internal Revenue (Three Cases)Court of Appeals for the Third Circuit · 1972
4 more not listed; retrieve them via the Exa API.