What PERCENTAGE DEPLETION means: The deduction for percentage depletion is a specified percentage of the gross income from the property, subject to other limits. Percentage depletion is allowed for nearly all natural resources, except timber. See also Cost Depletion.
- Definition Personal Property Tax:
- Dictionary An annual tax imposed on certain personal property, such as cars or boats, and based on the value of the property percentage depletion.
- Definition Pensions:
- Dictionary A pension is a definitely determinable series of payments received from an employer-provided plan after the employee retires percentage depletion.
- Definition Penalties:
- Dictionary amounts that the IRS may assess at a statutory rate as an addition to a tax deficiency and interest. The tax Code provides for penalties for various infractions, such as underpayment of estimated tax percentage depletion.
- Definition Personal-Use Property:
- Dictionary Property that is not used for business or investment purposes percentage depletion.
How works Percentage Depletion meaning in Tah definition P .