depletion allowance


noun

a tax reduction allowed on income from exhaustible resources, as oil or timber.

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Words nearby depletion allowance

Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

Cultural definitions for depletion allowance

depletion allowance

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

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