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.
Oil companies grappled with new uncertainties about their future as the House Ways and Means Committee approved a tax bill that fairly soon is likely to wipe out the celebrated depletion allowance.
From Time Magazine Archive
One reason is that oil companies have less money to spend: Congress has eliminated most of their depletion allowance, and their profits have dropped.
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
The companies, however, generate such huge tax write-offs from other sources�mainly the foreign-tax credit �that they rarely need to use the foreign depletion allowance.
From Time Magazine Archive
