S.2240 - A bill to amend the Internal Revenue Code of 1986 to extend the allowance for bonus depreciation for certain business assets.

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  • Official: A bill to amend the Internal Revenue Code of 1986 to extend the allowance for bonus depreciation for certain business assets. as introduced.

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Introduced
 
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President
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03/26/12
 
 
 
 
 
 
 

Official Bill Text Comment on about 8 Pages

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Senator

Debbie Stabenow

D-MI

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Official Summary

3/27/2012--Introduced.Amends the Internal Revenue Code to: (1) extend for one year the 100% bonus depreciation allowance for business assets, and (2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of c
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Official Summary

3/27/2012--Introduced.Amends the Internal Revenue Code to:
(1) extend for one year the 100% bonus depreciation allowance for business assets, and
(2) increase the amount of alternative minimum tax (AMT) credits that corporate taxpayers may elect to accelerate in a taxable year in lieu of claiming bonus depreciation.

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