A bill to amend the Internal Revenue Code of 1954 to provide that the retirement-replacement-betterment method of accounting for property used by a common carrier (including a railroad switching company or a terminal company) is an acceptable method for determining depreciation allowances for income tax purposes.

referredUnited States· United States Congress· EN

Introduced

13 June 1979

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to permit common carriers by railroad (including a railroad switching company or a terminal company) to use the retirement-replacement-betterment method of accounting for determining depreciation allowances for income tax deduction purposes.

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Documents

1 official file

Introduced in House
summary · EN · 13 June 1979
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/96th-congress/house-bill/4446
Open data entity: https://api.congress.gov/v3/bill/96/hr/4446