Is Alabama following the Federal in allowing the the bonus depreciation and the additional Section 179 expense provisions of the federal Economic Stimulus Act of 2008 on the Alabama return?
No. Act Number 2008-549, passed by the Alabama Legislature during the first 2008 Special Session, decoupled Alabama income tax laws from the bonus depreciation and the additional Section 179 expense provisions of the Federal Economic Stimulus Act of 2008. The amount of bonus depreciation and the additional Section 179 expense deduction claimed on the federal return (as allowed by the Federal Economic Stimulus Action of 2008) must be added back.
Related Questions
- Is Alabama following the Federal in allowing the the bonus depreciation and the additional Section 179 expense provisions of the federal Economic Stimulus Act of 2008 on the Alabama return?
- I do not understand the federal bonus depreciation addition on Schedule KS. How do I determine the shareholder’s share?
- Whats the difference between Section 179 and Bonus Depreciation?
