As Amended
SEC. 91-17-23. Other property subject to depletion.
Except as provided in sections 91-17-19 and 91-17-21, if the principal consists of property subject to depletion, including leaseholds, patents, copyrights, royalty rights, and rights to receive payments on a contract for deferred compensation, receipts from the property, not in excess of five per cent (5%) per year of its inventory value, are income, and the balance is principal.
SOURCES: Codes, 1942, Sec. 672-181; Laws, 1966, ch. 371, Sec. 11, eff from and after January 1, 1967.