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TITLE 26-INTERNAL REVEN1UE CODE natural gas shall not include sales made of such items outside the United States, if no do- mestic production of the taxpayer or a relat- ed person is exported during the taxable year or the immediately preceding taxable year. (3) Related person For purposes of this subsection, a person is a related person with respect to the taxpayer if a significant ownership interest in either the taxpayer or such person is held by the other, or if a third person has a significant ownership interest in both the taxpayer and such person. For purposes of the preceding sentence, the term "significant ownership in- terest" means- (A) with respect to any corporation, 5 per- cent or more in value of the outstanding stock of such corporation, (B) with respect to a partnership, 5 per- cent or more interest in the profits or cap- ital of such partnership, and (C) with respect to an estate or trust, 5 percent or more of the beneficial interests in such estate or trust. For purposes of determining a significant ownership interest, an interest owned by or for a corporation, partnership, trust, or estate shall be considered as owned directly both by itself and proportionately by its shareholders, partners, or beneficiaries, as the case may be. (4) Certain refiners excluded If the taxpayer or a related person engages in the refining of crude oil, subsection (c) shall not apply to such taxpayer if on any day during the taxable year the refinery runs of the taxpayer and such person exceed 50,000 barrels. (e) Definitions For purposes of this section- (1) Crude oil The term "crude oil" includes a natural gas liquid recovered from a gas well in lease sepa- rators or field facilities. (2) Natural gas The term "natural gas" means any product (other than crude oil) of an oil or gas well if a deduction for depletion is allowable under section 611 with respect to such product. (3) Domestic The term "domestic" refers to production from an oil or gas well located in the United States or in a possession of the United States. (4) Barrel The term "barrel" means 42 United States gallons. (Added Pub. L. 94-12, title V, § 501(a), Mar. 29, 1975, 89 Stat. 47, and amended Pub. L. 94-455, title XIX, §§ 1901(a)(86), 1906(b)(13)(A). title XXI, § 2115(a)-(c)(1), (d), (e), Oct. 4, 1976, 90 Stat. 1779, 1834, 1907-1909.) AMEmMENTS 1976-Subsec. (b)(1)(C). Pub. L. 94-455, § 1901(a)(86)(A), struck out "within the meaning of section 613(b)(1)(A)" following "determined to be a gas well". Subsec. (c)(2). Pub. L. 94-455, § 1906(b)(13)(A), struck out "or his delegate" following "Secretary". Subsec. (c)(4). Pub, L. 94-455, § 1906(b)(13)(A), struck out "or his delegate" following "Secretary". Subsec. (c)(6)(A)(i). Pub. L. 94-455, § 1901(a)(86)(B), substituted "determined without" for "determined With". Subsec. (c)(7)(D). Pub. L. 94-455, § 2115(c)(1), added provisions relating to the method to be employed by the partners in computing the depletion allowance. Subsec. (c)(7)(E). Pub. L. 94-455, §1906(b)(13)(A), struck out "or his delegate" following "Secretary". Subsec. (c)(9)(B). Pub. L. 94-455, § 2115(b)(1), (e), added cls. (III) to (vi) and provision following cl. (vi). Subsec. (d)(1). Pub. L. 94-455. §2115(b)(2), substitut- ed in subpar. (A) reference to any depletion on produc- tion from an oil or gas property which is subject to the provisions of subsection (c) for reference to depletion with respect to production of oil and gas subject to the provisions of subsection (c) and added subpar. (D). Subsec. (d)(2). Pub. L. 94-455, § 2115(a), inserted "(excluding bulk sales of such items to commercial or industrial users)" before ", or any product derived" and added provisions following subpar. (B) relating to the application of this paragraph where combined gross receipts from the sale of oil, natural gas, or any product derived therefrom, for the taxable year of all retail outlets taken into account do not exceed $5,000,000 and relating to the exclusion of sales made outside the United States. Subsec. (d)(3). Pub. L. 94-455, § 2115(d), added provi- sion following subpar. (C) relating to the determina- tion of a significant ownership interest of a corpora- tion, partnership, trust, or estate. Er n'rzvz DATE OF 1976 AMENDMENT Amendment of subsecs, (b)(1)(C) and (c)(6)(A)(i) by section 1901(a)(86) of Pub. L. 94-455 effective for tax- able years beginning after Dec. 31, 1976, see section 1901(d) of Pub. L. 94-455, set out as an Effective Date of 1976 Amendment note under section 2 of this title. Section 2115(f) of Pub. L. 94-455 provided that: "The amendments made by this section [amending subsecs. (c)(7)(9) and (d)(1)-(3) of this section, and sections 703(a)(2) and 705(a) of this title] shall take effect on January 1, 1975. and shall apply to taxable years ending after December 31, 1974." Enrr vr DATE Section 501(c) of Pub. L. 94-12 provided that: "The amendments made by this section [enacting this sec- tion and amending sections 613 and 703 of this title] shall take effect on January 1, 1975, and shall apply to taxable years ending after December 31, 1974." SECTION Rxr EMnz TO IN OTMER SEcTIoNs This section is referred to in sections 613, 993 of this title. § 614. Definition of property (a) General rule For the purpose of computing the depletion allowance in the case of mines, wells, and other natural deposits, the term "property" means each separate interest owned by the taxpayer in each mineral deposit in each separate tract or parcel of land. (b) Special rules as to operating mineral interests in oil and gas wells In the case of oil and gas wells- (1) In general Except as otherwise provided in this subsec- tion- (A) all of the taxpayer's operating miner- al interests in a separate tract or parcel of land shall be combined and treated as one property, and (B) the taxpayer may not combine an op- erating mineral interest in one tract or § 614 Page 448