§ 206.118 - Are actual or theoretical losses permitted as part of a transportation allowance?  


Latest version.
  • You are allowed a deduction for oil transportation which results from payments that you make (either volumetric or for value) for actual or theoretical losses only under an arm's-length contract. You may not take such a deduction under a non-arm's-length contract.

    Effective Date Note:

    At 69 FR 24979, May 5, 2004, § 206.118 was removed, effective July 6, 2004. At 69 FR 29432, May 24, 2004, the effective date was changed to Aug. 1, 2004.