In most cases where the tax provides for adjustments to various factors that are important in the tax year to be adjusted annually we have to deal with constant change. However in Notice 2015-65 the IRS gave us an “updated” number that, for the fifteenth straight year, has remained unchanged.
That notice establishes the “applicable percentage” under IRC §613A(c)(6)(C) for determining percentage depletion on oil and gas produced on marginal properties. From 2001-2014 the applicable percentage had been 15% and 2015 will add another year to that string of consistency as the percentage remains at 15%.
During the first ten years of the percentage it varied each year, but since 2001 it has remained at the 15% level.