Primary Product from Oil [Internal Revenue] Law and Legal Definition
Pursuant to 26 CFR 1.907(c)-1 (d) (5) [Title 26 Internal Revenue; Chapter I Internal Revenue Service, Department of the Treasury; Subchapter A Income Tax; Part 1 Income Taxes; Normal Taxes and Surtaxes; Tax Based on Income from Sources within or without the United States; Income from Sources without the United States; Foreign Tax Credit], the term Primary Product from Oil means “all products derived from the processing of crude oil, including volatile products, light oils (such as motor fuel and kerosene), distillates (such as naphtha), lubricating oils, greases and waxes, and residues (such as fuel oil).”
Legal Definition list
- Primary Product from Oil [Internal Revenue]
- Primary Product from Gas [Internal Revenue]
- Primary National Subdivision of Federal Labor Relations Agency
- Primary Mortgage Servicer
- Primary Mode of Action
- Primary Provider
- Primary Qualifying Agent
- Primary Recipient [Education]
- Primary Residence
- Primary Residential Parent
- Primary Right
Related Legal Terms
- Abandoned Well (Oil and Gas)
- Abandonment Allowance (Oil and Gas)
- ABC Transaction [Oil & Gas]
- Abnormal Spoilage
- Absolute Ownership (Oil and Gas)
- Accumulation plan [Internal Revenue]
- Act to Prevent Pollution from Ships
- Actuarial Present Value [Internal Revenue]
- Adjustment [Oil and Gas]
- Advertising of Fluid Milk Products
