SB 32

  • Tennessee Senate Bill
  • 114th Regular Session (2025-2026)
  • Introduced in Senate Jan 14, 2025
  • Passed Senate Jan 15, 2025
  • House
  • Governor

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.

Bill Subjects

Taxes

Abstract

Bill Sponsors (1)

Votes


No votes to display

Actions


Apr 22, 2025

Senate

Assigned to General Subcommittee of Senate Finance, Ways & Means Committee

Apr 17, 2025

Senate

Placed on Senate Finance, Ways, and Means Committee calendar for 4/21/2025

Apr 14, 2025

Senate

Rule #83(8) Suspended, to be heard in Senate Finance, Ways & Means Committee on 4/15/2025

Senate

Placed on Senate Finance, Ways, and Means Committee calendar for 4/15/2025

Mar 25, 2025

Senate

Action deferred in Senate Finance, Ways & Means Committee / Behind the Budget

Mar 18, 2025

Senate

Action deferred in Senate Finance, Ways, and Means Committee to 4/1/2025

Mar 11, 2025

Senate

Placed on Senate Finance, Ways, and Means Committee calendar for 3/18/2025

Senate

Action deferred in Senate Finance, Ways, and Means Committee to 3/18/2025

Mar 04, 2025

Senate

Placed on Senate Finance, Ways, and Means Committee calendar for 3/11/2025

Senate

Refer to Senate Finance, Ways & Means Committee w/ recommendation, as amended

Feb 25, 2025

Senate

Placed on Senate FW&M Revenue Subcommittee calendar for 3/4/2025

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

Bill Text

Bill Text Versions Format
Current Version PDF

Related Documents

Document Format
Fiscal Note

Sources

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