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percentage depletion |
Also found in: Financial | 0.11 sec. |
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percentage depletion [pər′sen·tij di′plē·shən] (petroleum engineering) Oil- or gas-reservoir depletion allowance calculated on the basis of unit sales and initial depletable leasehold cost. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Suspension of the 100 percent taxable income limit on percentage depletion deductions for oil and gas production from marginal properties; The result (S900) is the percentage depletion, because it is lower than the taxable income ceiling ($2,500) applicable to oil and gas property. Excess of percentage depletion over the adjusted basis of the property is deductible. |
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