marginal production
Defined in 1 place of the United States Code.
The term “marginal production” means domestic crude oil or domestic natural gas which is produced during any taxable year from a property which—
(i) is a stripper well property for the calendar year in which the taxable year begins, or
(ii) is a property substantially all of the production of which during such calendar year is heavy oil.
Source
- 1994–present26 U.S.C. § 613AInternal Revenue Code · Limitations on percentage depletion in case of oil and gas wells · in this section