HB 477 In Committee
Taxes - 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.
Introduced
In Committee
Floor
Crossed Over
Passed
Enacted
Apr 9, 2025 · House
Placed on s/c cal Finance, Ways, and Means Subcommittee for 4/14/2025
Mar 19, 2025 · House
Placed behind the budget
Mar 12, 2025 · House
Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/19/2025
Mar 12, 2025 · House
Action Def. in s/c Finance, Ways, and Means Subcommittee to 3/19/2025
Mar 5, 2025 · House
Placed on s/c cal Finance, Ways, and Means Subcommittee for 3/12/2025
Feb 5, 2025 · House
Assigned to s/c Finance, Ways, and Means Subcommittee
Feb 5, 2025 · House
P2C, ref. to Finance, Ways, and Means Committee
Feb 3, 2025 · House
Intro., P1C.
Jan 28, 2025 · House
Filed for introduction