Vericoals, Inc. v. Revenue Cabinet

OPINION

HOWERTON, Judge.

Vericoals, Inc. appeals from an order of the Pike Circuit Court affirming an order of the Board of Tax Appeals (BTA) holding that Vericoals is the taxpayer liable for severance tax on coal. We affirm.

On April 1, 1977, N.B. and Susan Williamson Land Co. (Williamson Land Co.) entered into a coal lease with Nuclear Dynamics in which the latter was to mine and sell coal from a tract of property situated on Brushy Creek in Pike County. Nuclear Dynamics was to pay Williamson Land Co. a tonnage royalty for the coal mined.

On June 1, 1981, Nuclear Dynamics assigned this lease to…