>One major tax break allows companies to deduct most of the cost of drilling new oil and gas wells. Is this referring to the complete ordinary fact that corpor

>One major tax break allows companies to deduct most of the cost of drilling new oil and gas wells. Is this referring to the complete ordinary fact that corporations only pay tax on profits (Income - Expenses)? Or is there something else here? For example, is every company getting a labor "subsidy", since they deduct the amount of employee pay? I'm not up to speed on oil well drilling. Are the costs of drilling new wells deducted in the same calendar year as it was drilled? Or do you have to amortize it over say 20 years?