Taxpayers may elect to deduct up to $15,000 of the costs of removing architectural or transportation barriers to the handicapped in the year these costs are incurred. The immediate deduction of these expenditures, which would otherwise have to be capitalized and depreciated over a longer period, constitutes a tax expenditure, resulting in a deferral of tax or an interest-free loan.
Origin: IRC § 190; M.G.L. c. 63, § 30.4
Tax Type
Tax Expenditure
Item Number
Item Name
Description
Origin
FY2019
FY2020
FY2021
FY2022
FY2023
Corporate Excise Tax
Accelerated Deductions from Gross Income
2.303
Expenditures to Remove Architectural and Transportation Barriers to the Handicapped and Elderly
Taxpayers may elect to deduct up to $15,000 of the costs of removing architectural or transportation barriers to the handicapped in the year these costs are incurred. The immediate deduction of these expenditures, which would otherwise have to be capitalized and depreciated over a longer period, constitutes a tax expenditure, resulting in a deferral of tax or an interest-free loan.
<a href="http://www.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000190----000-.html" target="_blank">IRC § 190</a>; <a href="https://malegislature.gov/Laws/GeneralLaws/PartI/TitleIX/Chapter63/Section30" target="_blank">M.G.L. c. 63, § 30.4</a>
0.4
0.4
0.4
0.4
0.4
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