IDC

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IDC

abbreviation for
industrial development certificate

IDC

I don’t care
References in periodicals archive ?
On the other hand, intangible drilling costs do not include expenditures made to acquire tangible property ordinarily considered to have a salvage value.
the excess of intangible drilling costs expensed (other than drilling costs of a nonproductive well) over the amount allowable for the year if the intangible drilling costs had been amortized over a 10-year period to the extent the excess is greater than 65% of the net income from oil, gas, and geothermal properties (with an exception for certain independent producers);
While less likely, a lessor may also have intangible drilling costs, tangible asset costs, and other operating costs.
b) Intangible Drilling Costs (IDC) incurred in exploratory and development programs (as well as any small amount of IDC associated with an income program) are deductible.
Section 263 of the Internal Revenue Code permits integrated oil companies such as Exxon and Chevron to immediately deduct 70 percent of intangible drilling costs (IDCs).
For successful investments in domestic oil and gas wells by independent oil and gas producers, intangible drilling costs (wages, expenses of using machinery for grading and drilling, and costs of unsalvageable materials) are fully tax-deductible in the year in which they occur.
1, the taxpayer consistently capitalized platform costs that could have been deducted as intangible drilling costs (IDCs).
Intangible drilling costs paid or incurred in tax years beginning after 1989.
He plans to strip the industry of its egregious depletion allowance but preserve its far more valuable benefits from intangible drilling costs.
5 million is for tangible and intangible drilling costs ($1.