To amend the Internal Revenue Code of 1986 to clarify that bonus depreciation is not a cost allocated to a contract under the percentage of completion method for long-term contracts.
About This Bill
Committee
Latest Action · November 4, 2011
Referred to the House Committee on Ways and Means.
Amends the Internal Revenue Code to extend through 2012 the tax rule that excludes bonus depreciation allowed for certain depreciable business assets as a cost allocated to a contract under the percentage of completion method for long-term contracts.
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