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depletion allowance

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Allowance
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depletion allowance

 
Use depletion allowance in a Sentence
–noun
a tax reduction allowed on income from exhaustible resources, as oil or timber.
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Based on the Random House Dictionary, © Random House, Inc. 2009.
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Allowance
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Main Entry:  depletion allowance
Part of Speech:  n
Definition:  a tax break given to a corporation when its normal business activities reduce the value of its assets
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Cultural Dictionary

depletion allowance

A deduction from taxable income based on the eventual exhaustion or waste of a natural asset, such as an oil field.

The American Heritage® New Dictionary of Cultural Literacy, Third Edition
Copyright © 2005 by Houghton Mifflin Company.
Published by Houghton Mifflin Company. All rights reserved.
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