1999 Minnesota Statutes

     501B.68 Timber. 

    If a part of the principal consists of land from which 
 merchantable timber may be removed, the receipts from taking the 
 timber from the land must be allocated in accordance with what 
 is reasonable and equitable in view of the interests of those 
 entitled to income as well as of those entitled to principal.  
 The amount allocated to principal must be presumed to be 
 reasonable and equitable if it is neither substantially more nor 
 less than the amount allowable as a deduction for depletion, 
 amortization, depreciation, or similar costs under the Internal 
 Revenue Code of 1986.  

    HIST: 1989 c 340 art 1 s 57; 1990 c 581 s 6