Code Section 613A
| Code Section | Effective Date | Name of Act | Name of Provision | 10yr Revenue Estimate ($millions) |
|---|---|---|---|---|
| 613A | 12/31/2009 | The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 | Suspension of limitation on percentage depletion for oil and gas from marginal wells | -224 |
Suspension of limitation on percentage depletion for oil and gas from marginal wells
Explanation of Provision
The provision extends the suspension of the 100-percent net-income limitation for marginal production for two years (to apply to tax years beginning before January 1, 2012).
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