Indiana Bill Would Eliminate Bonus Depreciation and Asset Expense Addbacks

Legislation was introduced in Indiana to eliminate income tax addbacks for federal bonus depreciation and portions of the asset expense deduction. The changes would apply to property placed in service after December 31, 2018.

What are the Current Addbacks?

Indiana requires taxpayers to addback federal bonus depreciation taken under IRC Sec. 168(k). Taxpayers must also addback their share of IRC Sec. 179 asset expense deduction amounts over Indiana’s $25,000 cap.

S.B. 624, as introduced in the Indiana Senate on January 15, 2019

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