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depletion allowance

noun
1.
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. 2014.
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depletion-allowance in Culture

depletion allowance definition


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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12
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