depletion allowance
Example Sentences
Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.
One reason is the depletion allowance, which basically permits oil companies to deduct from their tax bills 22% of the value of the oil that their wells produce.
From Time Magazine Archive
The bill calls for a repeal of the 7% business investment tax credit, a reduction from 27�% to 22% of the oil depletion allowance, and increased taxes on high-bracket capital gains.
From Time Magazine Archive
Nothing is more sacred to many Congressmen than the depletion allowance.
From Time Magazine Archive
Most of these deductions come from domestic oil production, but oilmen can also use the depletion allowance to reduce U.S. taxes on their foreign income.
From Time Magazine Archive
President Nixon has proposed that Congress repeal the U.S. depletion allowance for oil wells located abroad.
From Time Magazine Archive
