Corporate AMT – Intangible Drilling & Development Costs
Current understanding
To be populated as evidence accumulates.
Evidence log
- 2025-01-23 — Promoting Domestic Energy Production Act: Promoting Domestic Energy Production Act (HR662, 119th Congress) as introduced would let corporations subtract intangible drilling and development cost deductions and related depletion expenses for domestic oil, gas, and geothermal wells from adjusted financial statement income when computing the 15% corporate AMT — reducing AMT liability for oil, gas, and geothermal producers subject to the 15% CAMT. (novelty: 2)