Non-Capital Expenditures definition
Non-Capital Expenditures means those expenditures associated with property acquisition and the drilling and completion of natural gas and oil ▇▇▇▇▇ that under present law are generally accepted as fully deductible currently for federal income tax purposes. This includes:
Non-Capital Expenditures means those expenditures associated with property acquisition and the drilling and completion of natural gas and oil ▇▇▇▇▇ that under present law are generally accepted as fully deductible currently for federal income tax purposes. This includes all expenditures made for any well before production in commercial quantities for wages, fuel, repairs, hauling, supplies and other costs and expenses incident to and necessary for drilling the well and preparing the well for production of natural gas or oil, that are currently deductible pursuant to Section 263(c) of the Code and Treasury Reg. Section 1.612-4, and are generally termed "intangible drilling and development costs," including the expense of plugging and abandoning any well before a completion attempt.
Non-Capital Expenditures or “Intangible Drilling Costs” means those expenditures associated with property acquisition and the drilling and completion of oil and gas w▇▇▇▇ that under present law are generally accepted as fully deductible currently for federal income tax purposes.
Examples of Non-Capital Expenditures in a sentence
The Authority shall advance any portion of the Loan to be used by the Borrower to pay Project costs comprising Non-Capital Expenditures or one-time Capital Expenditures in a lump sum payment upon the submission by the Borrower of a Requisition for Funds in substantially the same form provided by the Authority.
More Definitions of Non-Capital Expenditures
Non-Capital Expenditures means those expenditures associated with property acquisition and the drilling and completion of oil and gas w▇▇▇▇ that under present law are generally accepted as fully deductible currently for federal income tax purposes; and includes all expenditures made with respect to any well prior to the establishment of production in commercial quantities for wages, fuel, repairs, hauling, supplies and other costs and expenses incident to and necessary for the drilling of such well and the preparation thereof for the production of oil or gas, that are currently deductible pursuant to Section 263(c) of the Code and Treasury Reg. Section 1.612-4, which are generally termed "intangible drilling and development costs," including the expense of plugging and abandoning any well prior to a completion attempt.
Non-Capital Expenditures means expenditures paid or to be paid by the Borrower, but not capitalized in the financial records of the Borrower, for one or more of the following purposes:
Non-Capital Expenditures means expenditures which are not considered as capital expenditures and as such are allowable as expenses in the current year pursuant to the provisions of the Income Tax Act (Canada).