Value of taxable commodities defined: option premium, settlement price, or sale price determines taxable value. Value of a taxable commodities transaction is set by reference to the Table in section 104: serial number 1 - the option premium; serial number 2 - the settlement price of the option in goods or option in commodity derivative; serial number 3 - the price at which the commodity derivative is sold.
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Provisions expressly mentioned in the judgment/order text.
Value of taxable commodities defined: option premium, settlement price, or sale price determines taxable value.
Value of a taxable commodities transaction is set by reference to the Table in section 104: serial number 1 - the option premium; serial number 2 - the settlement price of the option in goods or option in commodity derivative; serial number 3 - the price at which the commodity derivative is sold.
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