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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (609192)4/27/2011 7:28:29 PM
From: rich evans  Read Replies (2) | Respond to of 1577553
 
He is talking about percentage depletion allowance(22%) and expensing intangible drilling expenses. Most depletion/depreciation ends when basis is recovered. Not in the oil /gas accounting. You get your 22% forever.

Rich



To: Jim McMannis who wrote (609192)4/28/2011 11:15:14 AM
From: tejek  Read Replies (2) | Respond to of 1577553
 
He's talking freebies.......breaks the oil industry should not be getting when oil is at $100.



To: Jim McMannis who wrote (609192)4/28/2011 12:47:19 PM
From: Brumar89  Respond to of 1577553
 
He is probably talking about IDC as some have indicated. Also probably the credit for foreign taxes paid .... to prevent double taxation of the same income (this would make it hard for US oil companies to compete abroad) and the 3% deduction for domestic production activities - these last two are not unique to the oil industry - every industry gets them.


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