HB116
Type: B Origin: House Ohio Comments: 0

Regards Deduction Of Bonus Depreciation And Expensing Allowances

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This bill focuses on the deduction of bonus depreciation and expensing allowances. It aims to provide businesses with tax incentives by allowing them to deduct a larger portion of the cost of qualifying property in the year it is placed in service. This can help stimulate investment, boost economic growth, and encourage businesses to make capital expenditures. By enhancing these deductions, businesses may have more resources to reinvest in their operations or expand, ultimately benefiting the economy.

Bill Activity

  • 2023-03-16: Introduced

  • 2023-03-22: Referred to committee: Ways and Means

  • 2023-05-02: Reported - Substitute: Ways and Means

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