On the recordApril 21, 2021
The answer is it's over seven years. And what the intangible drilling deduction does is for oil companies, they get to deduct expenses on the first year for seven years.
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congress.govThe answer is it's over seven years. And what the intangible drilling deduction does is for oil companies, they get to deduct expenses on the first year for seven years.
Khanna explains the tax deduction for oil companies in relation to standard accounting practices.
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