Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Citation
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Parent Document
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Jurisdiction
- Kentucky (state)
- Effective Date
- 1994-01-28
Other Sections in This Document (31)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
- Vericoals, Inc. v. Revenue Cabinet, 869 S.W.2d 49 (1994)
Full Text
643 charsFinally, the proceeds Vericoals received from Unit Coal were not an arm’s length royalty referred to in KRS 143.-010(10). A party receiving only an arm’s *53length royalty does not have the economic interest. Verieoals reported these proceeds as gross receipts and not as royalties on its corporate income tax return; the line for royalties was left blank. There was testimony that the amounts received were almost twice the amount of an average royalty. A taxpayer must accept the tax consequences when he chooses to organize his affairs in a particular manner. Cf. Higgins v. Smith, 308 U.S. 473, 477, 60 S.Ct. 355, 357, 84 L.Ed. 406 (1940).