depletion allowance — n. The tax deduction allowed to owners of property containing natural resources as the resources are used up. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008. depletion allowance … Law dictionary
depletion allowance — a tax reduction allowed on income from exhaustible resources, as oil or timber. * * * In tax law, the deductions from gross income allowed investors in exhaustible commodities (such as minerals, oil, or gas) for the depletion of the deposits. The … Universalium
Depletion allowance — A term for either (1) a periodic assignment to expense of recorded amounts or (2) an allowable income tax deduction that is related to the exhaustion of mineral reserves. Depletion is included as one of the elements of amortization. When used… … Energy terms
depletion allowance — a tax reduction allowed on income from exhaustible resources, as oil or timber … Useful english dictionary
depletion — An emptying, exhausting or wasting of assets. A reduction during taxable year of oil, gas or other mineral deposits or reserves (i.e., wasting assets) as a result of production. The process by which the cost or other basis of a natural resource… … Black's law dictionary
depletion — An emptying, exhausting or wasting of assets. A reduction during taxable year of oil, gas or other mineral deposits or reserves (i.e., wasting assets) as a result of production. The process by which the cost or other basis of a natural resource… … Black's law dictionary
Chronology of world oil market events (1970-2005) — Basic OverviewThe 1970s See: 1970 1979 world oil market chronology 1970*January 1: U.S. Federal oil depletion allowance reduced from 27.5 to 22.0 percent. *May 3: TAP line from Saudi Arabia to the Mediterranean interrupted in Syria, creating all… … Wikipedia
Chronology of world oil market events (1970–2005) — Contents 1 Basic overview 2 The 1970s 2.1 1970 2.2 1971 … Wikipedia
1970-1979 world oil market chronology — 1970= *January 1: U.S. Federal oil depletion allowance reduced from 27.5 to 22.0 percent. *May 3: TAP line from Saudi Arabia to the Mediterranean interrupted in Syria, creating all time tanker rate highs from June to December. *September 4:… … Wikipedia
1975 world oil market chronology — *January 1: U.S. Federal oil depletion allowance eliminated for large producers. *January 13: Business Week publishes Kissinger interview hinting at military action against oil countries in case of actual strangulation. *April 7 15: Preliminary… … Wikipedia
1970 world oil market chronology — *January 1: U.S. Federal oil depletion allowance reduced from 27.5 to 22.0 percent. *May 3: TAP line from Saudi Arabia to the Mediterranean interrupted in Syria, creating all time tanker rate highs from June to December. *September 4: Libya… … Wikipedia