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- Budget Message
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Volume 2
- Budget Development
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- Appendix A
- Glossary
1.308 -Expensing Exploration and Development Costs
Item | Description | FY2011 | FY2012 | FY2013 |
---|---|---|---|---|
1.308 | Expensing Exploration and Development Costs
Individuals or investors in extractive industries (mining or drilling natural resources) may take an immediate deduction for certain exploration and development costs. For a more detailed description of this tax expenditure, see corporate excise item 2.309; the provisions for individual taxpayers are somewhat more liberal than those that apply to corporations. Origin: IRC S. 263(c), 616 and 617 in effect January 1, 1985 Estimate: Negligible |
Negligible | Negligible | Negligible |
Key:
ORIGIN | |
IRC | Federal Internal Revenue Code (26 U.S.C.) |
---|---|
U.S.C | United States Code |
M.G.L. | Massachusetts General Laws |
Rev. Rul.; C.B. | Revenue Ruling; Cumulative Bulletin of the U.S. Treasury |
ESTIMATES | All estimates are in $ millions. |
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