depletion allowance
noun
a tax reduction allowed on income from exhaustible resources, as oil or timber.
Words nearby depletion allowance
depill, deplane, deplete, depleted uranium, depletion, depletion allowance, depletion layer, depletion region, deplorable, deplore, deploy
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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.