Production and sale of oil. X is a C corporation that purchased a working in- terest in an oil and gas property for $100,000 on July 1, 1993. X elects to become an S cor- poration effective January 1, 1996. On that date, the working interest has a fair market value of $250,000 and an adjusted basis of
Appears in 7 contracts
Samples: Supplemental Contract, Publishing Agreement, Supplemental Contract
