H.R.3366 - 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.

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  • Official: 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. as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
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11/04/11
 
 
 
 
 
 
 

Sponsor

Representative

Sam Johnson

R-TX

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Official Summary

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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