Depletion allowance

Percentage depletion for most minerals is limited to a percentage of the taxable income from the property receiving the depletion allowance. For certain oil and gas producers the percentage depletion can be limited to a percentage of the taxpayer s net income from all sources. 

The procedure for a feasibility study is to calculate both the cost and percentage depletion allowances, then choose the larger. Remember, either type reduces the basis. However, percentage depletion deducted after the basis reaches zero. 

Exhaustible natural deposits and timber might qualify for a cost depletion allowance. Each year, depletion is equal to the property s basis, times the number of units sold that year, divided by the number of recoverable units in tbe deposit at the first of the year. The basis is the cost of the property, exclusive of the investment that can be depreciated, less depletion taken in previous years. 

At times, mining and some oil and gas operations are entitled to an alternate depletion allowance calculated from a percentage of gross sales. A current tax manual should be consulted to get the percentage depletion allowance for the mineral being studied. 

If a company mines an ore, has an oil or gas well, or cuts timber, the company may be entitled to a depletion allowance on its income tax. A depletion allowance is... 

The savings in federal income tax by using the depletion allowance is... 

The depletion allowance in 1970 for various substances is given in Table 1 1-3. 

Hazardous Materials Table, 20 809 Dependent chemical reactions, 21 336-337 Dephlegmators, 3 54-56 10 616 Depleted uranium, 25 421 Depletion allowance, 9 539 Depletion flocculation, 10 122, 123 Depletion provisions, magnesium, 15 347 Depletion region, 14 838 23 35 width, 22 244 Depolarization, in cardiac... 

Affinity depletion Allows selective removal of highly abundant proteins that impact on dynamic range potential risk of nonspecific loss of desired proteins, often adhering to affinity-depleted proteins (e.g., albumin)... 

Old Smooky Since I was knee high to a grasshopper I hated all them revenooers. I ain t gonna pay no dime to no Feds, so you can forget all about depletion allowance and income tax. Just tell me when to quit producing and start for the hills with my trusty dipstick again. 

There may be several possible explanations for this discrepancy among human cell types and between rodent and human M4>, microglia, and astrocytes. In human M< ) and glia NO induction by cytokines may be indirect Certain stimulatory cofactors, missing initially, need to be induced. It is possible that certain NO inhibitors (e.g., TGF- or prostaglandin E) or scavengers (O2) are coinduced and, with time, are depleted, allowing for the NO to be detected extracellularly. It is also possible that while NO is... 

Income Tax Expenses. This represents a considerable expense to a profitable company. Table 6-20 shows that the average income tax for chemical companies is 62 per cent of gross earnings. The tax on earnings of the extractive, mining, and petroleum companies is somewhat less than this because of depletion allowances on their natural resource reserves. 

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