Percentage Depletion

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August 25, 2024 3 min read Definitions
Cost Depletion: Recovery of the Tax Basis in a Mineral Deposit
Taxation Finance Cost Depletion Tax Basis Mineral Deposit Productive Life Percentage Depletion
Cost depletion is a method for recovering the tax basis in a mineral deposit by deducting it proportionately over the productive life of the deposit. This contrasts with the percentage depletion method.
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August 25, 2024 4 min read Definitions
Independent Producer: Oil Market Taxpayer Definition
Economics Taxes Oil Market Independent Producer Taxpayer Percentage Depletion Energy Sector
Comprehensive definition of an Independent Producer in the context of the oil market, including applicable tax considerations and percentage depletion rate.
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August 25, 2024 3 min read Definitions
Percentage Depletion Method: Tax Deduction for Mineral Deposits
Economics Taxation Accounting Tax Deduction Mineral Deposits Economic Interest Gross Income Percentage Depletion
A tax deduction method that allows taxpayers with economic interests in mineral deposits to deduct a specified percentage of gross income from the deposit.
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