Unpacking the Challenges of State Tax Depreciation

August 8, 2019 at 2:00 PM

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.

Learning Objectives: 

  • 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.