depletion allowance


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

Nearby words

  1. depill,
  2. deplane,
  3. deplete,
  4. depleted uranium,
  5. depletion,
  6. depletion layer,
  7. depletion region,
  8. depletory,
  9. deplorable,
  10. deploration Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2019

Culture 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.