Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2014

1.308 -Expensing Exploration and Development Costs

Item DescriptionFY2012 FY2013 FY2014
1.308 Expensing Exploration and Development Costs
Individuals or investors in extractive industries (mining or drilling natural resources) may take an immediate deduction for certain exploration and development costs. For a more detailed description of this tax expenditure, see corporate excise item 2.309; the provisions for individual taxpayers are somewhat more liberal than those that apply to corporations.

Origin:  IRC S. 263(c), 616 and 617 in effect January 1, 1985
Estimate:  Negligible
Negligible Negligible Negligible


IRCFederal Internal Revenue Code (26 U.S.C.)
U.S.C United States Code
M.G.L. Massachusetts General Laws
Rev. Rul.; C.B. Revenue Ruling; Cumulative Bulletin of the U.S. Treasury
ESTIMATES All estimates are in $ millions.

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