How does californias conformity to the tcja

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Reference no: EM133608040

Question: The Tax Cuts and Jobs Act (TCJA) increased the amount of the additional first-year depreciation allowance from 50% to 100% for certain qualified property acquired and placed in service after September 27, 2017, and before January 1, 2023. How does California's conformity to the TCJA's additional first-year depreciation allowance differ from the federal provision? California fully conforms to the federal provision. California allows the 100% deduction but does not phase it down. California phases down the deduction and it starts at 50%. California does not conform to this provision.

Reference no: EM133608040

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