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depletion allowance

SEE MORE SYNONYMS FOR depletion allowance ON THESAURUS.COM

noun

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

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Dictionary.com 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.