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 House
- Passed Senate
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2025
- Apr 9Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025Latest
- Mar 19Placed behind the budget
- Mar 12Action Def. in s/c Finance, Ways, and Means Subcommittee to 3/19/2025
- Mar 12Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/19/2025
- Mar 5Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/12/2025
- Feb 5P2C, ref. to Finance, Ways, and Means CommitteeMinor
- Feb 5Assigned to s/c Finance, Ways, and Means SubcommitteeMinor
- Feb 3Intro., P1C.Minor
- Jan 28Filed for introductionIntroduced