As Peter recently explained, this deduction of 15% of grossincomefrom oil, gas, silver and gold extraction, can be applied creatively and cumulatively on the yearly gross returns from a mine or well.
The newly extended enhanced incentive allows a non-farmer donor to use a conservation donation deduction to wipe out 50% of his grossincome in any year, up from the normal 30% that is a permanent part of the law.