Intangible Drilling Costs
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Intangible Drilling Costs

Expenses a company has when it drills for oil or natural gas. Intangible drilling costs are sometimes convenient for a company's tax purposes because it can deduct intangible drilling costs in one year when the company perhaps found little or no oil from profits made in a different year when the company does find oil.

intangible drilling costs

Expenses incurred while exploring for gas, geothermal, or oil reserves. These items may be expensed in the year incurred, or they may be capitalized and deducted throughout a period of years. Intangible drilling costs are an effective means of reducing taxes because they can be used to offset income in a single year even though the costs were incurred in order to produce or develop a capital asset (energy reserves) that will in turn generate income for many years. Costs for fuel, preparation of a site, and wages are examples of intangible drilling costs.

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amortization IDC			In Standard Oil, to deduct intangible drilling and development costs, the taxpayer reversed costs previously capitalized. Change in accounting method vs. correction of an error by Schuth, Michael R. / The Tax Adviser Costs that qualify for this tax credit include tertiary chemical injectant expenses, intangible drilling and development costs on qualified tertiary oil recovery projects, and amounts incurred for tangible depreciable property. The environment and the economy: seeking a common ground by Weidenbaum, Murray L.; Douglass, Christopher; Orlando, Michael / USA Today (Magazine) This distribution represents amounts payable to the trust with respect to production for the month of January 1992 and the release from escrow of an amount in connection with a long standing issue of potential recapture of intangible drilling and development costs under the Internal Revenue code. LL&E ROYALTY TRUST ANNOUNCES APRIL DISTRIBUTION by PR Newswire			Insurance Claim Insurance Company Insurance Coverage Insurance Dividend Insurance Dividends Insurance Fraud Prevention Act Insurance Guaranty Act Insurance Policy Insurance Premium Insurance Premium Tax Insurance principle Insurance Risk Insurance Score Insurance Settlement Insurance Trust Insured Insured Account Insured Asset Insured Bond Insured Event Insured Loan Insured plans Insured Trade Acceptance Intangibility Intangible Asset Intangible Drilling and Development Costs Intangible Drilling Costs Intangible Personal Property intangible property Intangible Tax Intangible Value Integer Programming Integralizado Integrated Financial Market integrated market making Integrated Pension Plan Integrazione a inizio Integrazione a termine Integrazione orizzontale Integrazione verticale Intellectual Property Rights Intellidex intelligent building Intentieverklaring intentional fraud inter vivos branch inter vivos trust Inter-African Coffee Organization Inter-American Commercial Arbitration Commission Inter-American Development Bank Inter-American Investment Corporation			Intake Variable Cam Timing Intakers intakes intakes intakes intakes intaking Intal Intal Intal Intalox Metal Tower Packing Intaminated INTAN Intan Andalas Wood Industry intangibility intangibility intangibility intangible intangible intangible intangible asset intangible asset intangible asset intangible asset Intangible assets Intangible assets Intangible assets Intangible assets Intangible Cultural Heritage Intangible Drilling and Development Cost Intangible Drilling and Development Costs Intangible Drilling Cost intangible drilling costs intangible drilling costs intangible drilling costs intangible drilling costs Intangible Personal Property Intangible Personal Property Tax Intangible property Intangible property intangible tax Intangible Taxes Intangible Value Intangible Values intangibleness intangibleness Intangibles Intangibles Intangibles intangibly intangibly Intangle INTAP Intar Intarnut Intarnut Intarnut intarsia intarsia intarsia intarsia

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Intangible Drilling Costs (redirected from Intangible Drilling and Development Costs)

Intangible Drilling Costs
(redirected from Intangible Drilling and Development Costs)