SB1672 — Taxes, Excise - As introduced, reverses Tennessee's decoupling from federal bonus depreciation for excise tax purposes; deletes requirement that bonus depreciation taken as a deduction on federal income tax return be added back to taxpayer's income in calculating net earnings for Tennessee excise tax purposes. - Amends TCA Section 67-4-2006.

SB1672 — Taxes, Excise - As introduced, reverses Tennessee's decoupling from federal bonus depreciation for excise tax purposes; deletes requirement that bonus depreciation taken as a deduction on federal income tax return be added back to taxpayer's income in calculating net earnings for Tennessee excise tax purposes. - Amends TCA Section 67-4-2006. · Informed CitizenrySB1672 amends Tennessee Code Annotated Section 67-4-2006 to reverse Tennessee's decoupling from federal bonus depreciation for excise tax purposes. The bill deletes the requirement that bonus depre…Open in Informed Citizenry