Accelerated Deductions from Gross Income

Fiscal Year 2014 Resource Summary (in Millions)
TAX EXPENDITURE FY2012 FY2013 FY2014
Accelerated Deductions from Gross Income 160.1 218.6 301.1

View tax item language

item description amount
Accelerated Deductions from Gross Income 301.1
2.301 Modified Accelerated Cost Recovery System on Rental Housing 2.7
2.303 Expenditures to remove architectural and transportation barriers to the handicapped and elderly 0.6
2.304 Election to Deduct and Amortize Business Start-up Costs 0.2
2.305 Modified Accelerated Cost Recovery System for Equipment 190.6
2.306 Deduction for Excess First-Year Depreciation 21.3
2.307 Modified Accelerated Depreciation on Buildings (other than Rental Housing) 1.3
2.308 Expensing Research and Development Expenditures in One Year 83.9
2.309 Expensing Exploration and Development Costs Negligible
2.311 Five-Year Amortization of Pollution Control Facilities N.A.
2.312 Alternative energy sources; deduction 0.4
2.313 Seven-Year Amortization for Reforestation 0.1

Key:

ORIGIN  
IRCFederal Internal Revenue Code (26 U.S.C.)
M.G.L. Massachusetts General Laws
U.S.C United States Code
ESTIMATES All estimates are in $ millions.