Unpacking the Challenges of State Tax Depreciation
As tax practitioners, we sometimes wish states would all follow the federal treatment when it comes to calculating taxable income. But alas, states have a choice to conform or not conform to the Internal Revenue Code, and the result is added complexity. In the area of fixed assets, state non-conformity isn’t as simple as “bonus/no-bonus”, and practitioners need to be aware of the various (and sometimes downright strange) treatment of fixed assets depreciation across the 50 states.
Join Bloomberg Tax & Accounting for an in-depth dive into the treatment of fixed assets depreciation at the state level.
- Summarize which areas of fixed assets depreciation are treated differently for states, including:
- Section 168(k) Bonus Depreciation
- Section 179 Bonus Depreciation
- Disposal Treatment
- Like Kind Exchanges
- Understand the intricate calculations and tracking challenges of certain states
- Understand the different depreciation methods used by certain states
- Understand how states have reacted to the Tax Cuts and Jobs Act (TCJA)
- Identify best practices and processes for dealing with federal/state tax differences for fixed assets depreciation
Who would benefit from attending this program?
This program is designed for c-suite executives, and directors and managers within corporate tax departments.