Operators welcome depreciation bonus.(tax cut via accounting change)(Brief Article)
Multichannel News, March, 2002 by Enrich, David
WASHINGTON -- In a likely financial windfall for cable and high-technology companies, the economic stimulus package signed into law by President Bush on March 9 included a 30 percent depreciation bonus to encourage firms to invest in new infrastructure and equipment. The provision, worth an estimated $97 billion, offers businesses a 30 percent tax write-off on equipment purchased over the next three years.
Normal depreciation schedules still apply to the remaining 70 percent of an item's value. "It will spur capital expenditures for new, advanced equipment and technology," said proponent Sen. George Allen (R-Va.), chairman of the Senate's HighTech Task Force. "This will create and save more jobs for working men and women involved in producing,...
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