HB0477Introduced in the House
AN ACT to amend Tennessee Code Annotated, Title 67, Chapter 4, Part 20, relative to the deduction for bonus depreciation for excise tax purposes.
Introduced by Kevin Vaughan, District 95
What does this bill do?
Plain-English breakdown
Writing a plain-English summary of this bill… this can take a few seconds the first time.
Official description
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.
Where it stands
Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025
April 9, 2025
How did lawmakers vote?
No recorded vote is available for this bill yet.
What do people think?
Citizen Voice
How would you vote on this bill?
An unofficial public opinion poll. It does not affect the bill or the official vote.
One response per device. Location is self-reported and not verified. Results are informal and not a scientific survey.
Bill history
Filed for introduction
Intro., P1C.
P2C, ref. to Finance, Ways, and Means Committee
Assigned to s/c Finance, Ways, and Means Subcommittee
Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/12/2025
Action Def. in s/c Finance, Ways, and Means Subcommittee to 3/19/2025
Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/19/2025
Placed behind the budget
Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025
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