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Introduced Senate Bill (S)

DIGEST

Income tax deductions. Eliminates, for property placed in service by a taxpayer after December 31, 2018: (1) the bonus depreciation add back of the amount that is allowed for federal income tax purposes; and (2) the Section 179 expense add back of the amount that is allowed for federal income tax purposes in excess of $25,000 per year. Income tax deductions. Eliminates, for property placed in service by a taxpayer after December 31, 2018: (1) the bonus depreciation add back of the amount that is allowed for federal income tax purposes; and (2) the Section 179 expense add back of the amount that is allowed for federal income tax purposes in excess of $25,000 per year.