depletion
Defined in 2 dictionaries — Case Law, U.S. Code
Definitions from Case Law
From 274 U.S. 295 - United States v. Ludey · 1927Most cited · 811 citing opinions
The depletion charge permitted as a deduction from the gross income in determining the taxable income of mines for any year represents the reduction in the mineral contents of the reserves from which the product is taken. The reserves are recognized as wasting assets. The depletion effected by operation is likened to the using up of raw material in making the product of a manufacturing establishment.
United States Code
16 U.S.C. § 1362 — for the purposes of this chapter (6 versions over time)
The term “depletion” or “depleted” means any case in which—
(A) the Secretary, after consultation with the Marine Mammal Commission and the Committee of Scientific Advisors on Marine Mammals established under subchapter III of this chapter, determines that a species or population stock is below its optimum sustainable population;
(B) a State, to which authority for the conservation and management of a species or population stock is transferred under section 1379 of this title, determines that such species or stock is below its optimum sustainable population; or
(C) a species or population stock is listed as an endangered species or a threatened species under the Endangered Species Act of 1973 [16 U.S.C. 1531 et seq.].