1. (a) Deduction. A deduction for percentage depletion shall be allowed only in the following set of circumstances:

   1. (1) The deduction is allowable in computing Federal taxable income.
   2. (2) Insufficient information is available to estimate the amount of recoverable units in accordance with industry standards.
   3. (3) The cost of the recoverable units is fixed and certain.
   4. (4) The cost of the recoverable units has not been fully recovered.
2. (b) Effective date. This section will apply for taxable years beginning on or after January 1, 2005.

Source

The provisions of this § 125.52 adopted February 24, 2006, applies for taxable years beginning on or after January 1, 2005, 36 Pa.B. 959; corrected March 11, 2006, 36 Pa.B. 1130.