Geothermal Deposit Law and Legal Definition

According to 26 CFR 1.23-2 [Title 26 -- Internal Revenue Chapter I -- Internal Revenue Service, Department of the Treasury Subchapter A -- Income Tax], a geothermal deposit is “a geothermal reservoir consisting of natural heat which is from an underground source and is stored in rocks or in an aqueous liquid or vapor (whether or not under pressure), having a temperature exceeding 50 degrees Celsius as measured at the wellhead or, in the case of a natural hot spring (where no well is drilled), at the intake to the distribution system.”