Depletion Deductions Sample Clauses
Depletion Deductions. Excess percentage depletion deductions with respect to depletable property shall be allocated to the Members in accordance with the allocation of gross income from the property (as determined under Section 613(c) of the Code) from which such deductions are derived in accordance with Treasury Regulation Section 1.704-1(b)(4)(iii). The term “excess percentage depletion” shall mean the excess, if any, of deductions for percentage depletion as determined under Section 613 of the Code over the adjusted tax basis of the depletable property.
Depletion Deductions. Deductions for depletion shall be allocated to the Members in accordance with the criteria set forth in the Internal Revenue Code and Treasury Regulations. The method for calculating depletion deductions shall be determined under one of the two methods set forth in Treasury Regulation section 1.611-1. Once the amount of the depletion deduction has been determined at the Company level, Yellowcake shall be allocated depletion deductions in an amount not less than which would have been allocable to Yellowcake under any of the permissible depletion methods if it held a direct ownership interest in the Property.
Depletion Deductions. Deductions for depletion shall be allocated to the Members in accordance with the criteria set forth in the Internal Revenue Code and Treasury Regulations. The method for calculating depletion deductions shall be determined under one of the two methods set forth in Treasury Regulation section 1.611-1. Once the amount of the depletion deduction has been determined at the Company level, AUC shall be allocated depletion deductions in an amount not less than which would have been allocable to AUC under any of the permissible depletion methods if it held a direct ownership interest in the Property.
Depletion Deductions. Excess percentage depletion deductions with respect to depletable property shall be allocated to the Members in accordance with the allocation of gross income from the property from which such deductions are derived. The term “excess percentage depletion” shall mean the excess, if any, of deductions for percentage depletion as determined for tax purposes over the adjusted basis of the depletable property. Depletion deductions with respect to contributed property shall be determined without regard to any portion of the property’s basis that is attributable to pre-contribution expenditures by Miranda that were capitalized under Code sections 616(b), 59(e) and 291(b). Deductions attributable to pre-contribution expenditures by Miranda shall be calculated under such Code sections as if Miranda continued to own the depletable property to which such deductions are attributable, and such deductions shall be reported by the Company and shall be allocated solely to Miranda.
Depletion Deductions. Excess percentage depletion deductions with respect to depletable property shall be allocated to the Members in accordance with the allocation of gross income from the property from which such deductions are derived. The term “excess percentage depletion” shall mean the excess, if any, of deductions for percentage depletion as determined for tax purposes over the adjusted basis of the depletable property. Depletion deductions with respect to contributed property shall be determined without regard to any portion of the property’s basis that is attributable to pre-contribution expenditures by CORE Alaska that were capitalized under Code sections 616(b), 59(e) and 291(b). Deductions attributable to pre-contribution expenditures by CORE Alaska shall be calculated under such Code sections as if CORE Alaska continued to own the depletable property to which such deductions are attributable, and such deductions shall be reported by the Company and shall be allocated solely to CORE Alaska. Exhibit C – Tax Matters: Page 9
Depletion Deductions. Depletion deductions with respect to contributed property shall be determined without regard to any portion of the property's basis that is attributable to pre-contribution expenditures by DHI US that were capitalized under Code sections 616(b), 59(e) and 291(b). Deductions attributable to pre-contribution expenditures by DHI US shall be calculated under such Code sections as if DHI US continued to own the depletable property to which such deductions are attributable, and such deductions shall be reported by the Company and shall be allocated solely to DHI US.