- The act or process of depleting.
- The state of being depleted; exhaustion.
- The use or consumption of a resource, especially a natural resource, faster than it is replenished.
Dictionary:
de·ple·tion (dĭ-plē'shən) ![]() |
| Thesaurus: depletion |
noun
| Antonyms: depletion |
| Law Dictionary: Depletion |
The exhaustion of a natural resource, the amount of the original deposit being hidden from view and thus necessarily unknown. 103 S.E. 2d 823, 825. In taxation,
cost depletion first cost depletion requires a determination of the number of units which will be produced by the property. I.R.C. §611. Then, the portion of the basis allocable to the reserves of depletable property is divided by the number of units to be produced. This amount is then deductible as each unit is sold during the taxable year. The basis of the property is reduced by the depletion taken and once basis allocable to the depletable reserves reaches zero no further depletion is allowed.
percentage depletion a special method for computing depletion which is allowable with respect to all depletable property except timber. I.R.C. §613. Percentage depletion allows as a deduction from gross income a percentage of the gross income received with respect to such property. Although percentage depletion reduces the owner's basis in the property, percentage depletion continues to be allowed even if the basis is reduced to zero.
| Word Tutor: depletion |
Depletion of the ozone layer is causing concern among scientists.
| Depletion (in accounting) | |
| Cost Depletion (business term) | |
| Percentage Depletion (in accounting) |
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![]() | Dictionary. The American Heritage® Dictionary of the English Language, Fourth Edition Copyright © 2007, 2000 by Houghton Mifflin Company. Updated in 2009. Published by Houghton Mifflin Company. All rights reserved. Read more | |
![]() | Thesaurus. Roget's II: The New Thesaurus, Third Edition by the Editors of the American Heritage® Dictionary Copyright © 1995 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. Read more | |
![]() | Antonyms. © 1999-2009 by Answers Corporation. All rights reserved. Read more | |
![]() | Law Dictionary. Law Dictionary. Copyright © 2003 by Barron's Educational Series, Inc. All rights reserved. Read more | |
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