On February 23, 2016, Governor Nathan Deal signed House Bill 742 (the annual Internal Revenue Code update) into law. As a result, for taxable years beginning on or after January 1, 2015*, the State of Georgia has adopted the provisions of all federal acts (as they relate to the computation of Federal Adjusted Gross Income or Federal taxable income for non-individuals) that were enacted on or before January 1, 2016.
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Topics: Section 179, Tax, Uncategorized
Bonus Depreciation Legislation Passes House, but Faces Hurdles
Posted by celliott on Jul 15, 2014 9:21:52 AM
On July 11, 2014, the House passed legislation permanently extending bonus depreciation. The Senate is expected to advance a temporary extension, rather than a permanent one, so the stage is set for further deliberation. The President has threatened to veto the measure if it makes it through Congress.
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Topics: Bonus Depreciation, Section 179, Tax, Uncategorized