IN SB0624 | 2019 | Regular Session

Status

Spectrum: Partisan Bill (Republican 2-0)
Status: Introduced on January 15 2019 - 25% progression
Action: 2019-01-28 - Senator Ford Jon added as second author
Pending: Senate Appropriations Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Tracking Information

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Title

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.

Sponsors


History

DateChamberAction
2019-01-28SenateSenator Ford Jon added as second author
2019-01-15SenateFirst reading: referred to Committee on Appropriations
2019-01-15SenateAuthored by Senator Buchanan

Indiana State Sources


Bill Comments

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