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Depletion Allowance Explained

Depletion Allowance Explained

The IRS code provides the percentage or cost depletion allowance as a means for owners to account for the depletion of reserves during the production and sale of oil and gas. This depletion allowance is...

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What Is Intangible Drilling Cost?

What Is Intangible Drilling Cost?

Intangible drilling cost (IDC) is a significant tax benefit for oil companies, allowing them to deduct the expenses associated with drilling wells in the United States. Typically, businesses in the oil...

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