TennesseeTaxes - As introduced, allows a taxpayer to annually elect to take a bonus depreciation deduction of 40 percent of the cost of assets purchased on or after January 1, 2026, during the tax year in which the assets were purchased when calculating net earnings or net losses for excise tax purposes; allows the taxpayer to take the federal depreciation percentage if it exceeds 40 percent. - Amends TCA Title 67, Chapter 4, Part 20.
What it does
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Apr 22Assigned to General Subcommittee of Senate Finance, Ways & Means CommitteeLatest
- Apr 17Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2025
- Apr 14Rule #83(8) Suspended, to be heard in Senate Finance, Ways & Means Committee on 4/15/2025
- Apr 14Placed on Senate Finance, Ways, and Means Committee calendar for 4/15/2025
- Mar 25Action deferred in Senate Finance, Ways & Means Committee / Behind the Budget
- Mar 18Action deferred in Senate Finance, Ways, and Means Committee to 4/1/2025
- Mar 11Action deferred in Senate Finance, Ways, and Means Committee to 3/18/2025
- Mar 11Placed on Senate Finance, Ways, and Means Committee calendar for 3/18/2025
- Mar 4Refer to Senate Finance, Ways & Means Committee w/ recommendation, as amendedMinor
- Mar 4Placed on Senate Finance, Ways, and Means Committee calendar for 3/11/2025
- Feb 25Placed on Senate FW&M Revenue Subcommittee calendar for 3/4/2025
- Feb 18Refer to Senate F,W&M Revenue Subcommittee
- Jan 15Passed on Second Consideration, refer to Senate Finance, Ways, and Means CommitteeMinor
- Jan 14Introduced, Passed on First ConsiderationMinor
- Jan 6Filed for introductionIntroduced