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SB 32
  • Introduced
    Jan 06, 2025
  • Passed Senate
  • Passed House
  • Signed into Law
SB 32
Tennessee Senate Bill
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Taxes - As introduced, allows a taxpayer to annually elect to take a bonus depreciation deduction of 40 percent of the cost of assets purchased on or after January 1, 2026, during the tax year in which the assets were purchased when calculating net earnings or net losses for excise tax purposes; allows the taxpayer to take the federal depreciation percentage if it exceeds 40 percent. - Amends TCA Title 67, Chapter 4, Part 20.
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Senate • Feb 18, 2025: Refer to Senate F,W&M Revenue Subcommittee
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  • Feb 18, 2025 | Senate
    • Refer to Senate F,W&M Revenue Subcommittee
  • Jan 15, 2025 | Senate
    • Passed on Second Consideration, refer to Senate Finance, Ways, and Means Committee
  • Jan 14, 2025 | Senate
    • Introduced, Passed on First Consideration
  • Jan 06, 2025 | Senate
    • Filed for introduction
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