Transcription of CORPORATION TAX BULLETIN 2018-03 Issued: July 6, 2018
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CORPORATION TAX BULLETIN 2018-03 Issued: July 6, 2018
CORPORATION TAX BULLETIN 2018-03 . Issued: July 6, 2018. This BULLETIN supersedes CORPORATION Tax BULLETIN 2017-02. Bonus Depreciation Before Act 72 of 2018. Before Act 72 of 2018, section 401(3)1.(q) of the Pennsylvania Tax Reform Code (TRC) disallowed bonus depreciation in the year in which assets were placed in service, but allowed corporations to deduct the federal bonus depreciation over several tax years after the assets were placed in service. Specifically section 401(3)1.(r). of the TRC provides for the recovery of the disallowed depreciation of qualified property that was claimed and allowable under section 168(k) of the IRC by providing for an additional deduction in certain circumstances.
CORPORATION TAX BULLETIN 2018-03 Issued: July 6, 2018 This bulletin supersedes Corporation Tax Bulletin 2017-02 Bonus Depreciation Before Act 72 of 2018
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