Depreciation code section

The Small Business Lending Fund Act of 20contains a provision to allow bonus depreciation on equipment purchases this year, including general aviation. Taxpayers who claim the bonus depreciation on their federal income tax. Assets acquired after December 3 200 but before January 2010.

To be eligible for 1percent bonus depreciation , an asset must meet all three of. It must be acquired between September 20and December 3 2011. The 20Tax Relief Act provided for 1percent bonus depreciation on new assets placed into service from Sept. Creation Act of 20allowed companies to claim a 1 depreciation bonus. Congress included an extension of bonus depreciation in early 20in . Keywords : bonus depreciation , taxation, state and local taxation, investment.

You must add back of Minnesota allowable bonus depreciation when calculating Minnesota taxable income. In response to federal 1percent bonus depreciation in 20, the Department issued Corporation Tax Bulletin 2011-01. A Bonus for Companies Using Bonus Depreciation.