United States · Bill · S
S. 231 (96th)
A bill to amend the Internal Revenue Code to help increase productivity and reduce inflation by providing larger tax deductions for depreciation.
Introduced
25 January 1979
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
14 June 2021
Summary
Amends the Internal Revenue Code, with regard to income tax deductions for depreciation, to increase, in any reasonable allowance, the permissible variance from a particular class life from 20 percent to 30 percent. Permits the taxpayer to disregard salvage value in computing such allowance. Establishes, for any small business whose adjusted tax basis in assets (other than real estate) is $250,000 or less, a straight line depreciation table of specific depreciation lives for specified assets.
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 25 January 1979
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/96th-congress/senate-bill/231
- Open data entity: https://api.congress.gov/v3/bill/96/s/231