Sec. 405. Limitation on deduction for tertiary injectants
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/bill/113/s/278/is/section-405A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 193 of the Internal Revenue Code of 1986 is amended by adding at the end the following new subsection: This section shall not apply to amounts paid or incurred by a taxpayer in any taxable year in which such taxpayer is a major integrated oil company (as defined in section 167(h)(5)(B)). . The amendment made by this section shall apply to amounts paid or incurred in taxable years beginning after December 31, 2012.