61 Pa. Code § 125.52 - Percentage depletion
(a)
Deduction. A deduction for percentage depletion shall be
allowed only in the following set of circumstances:
(1) The deduction is allowable in computing
Federal taxable income.
(2)
Insufficient information is available to estimate the amount of recoverable
units in accordance with industry standards.
(3) The cost of the recoverable units is
fixed and certain.
(4) The cost of
the recoverable units has not been fully recovered.
(b)
Effective date. This
section will apply for taxable years beginning on or after January 1,
2005.
Notes
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