Jobs and Growth Tax Relief Reconciliation Act of 2003 (Pub. L. No. 108-27): Summary of Selected Provisions
Date
2003-06-13
Authors
Harl, Neil
McEowen, Roger
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Abstract
The expense method depreciation annual allowance, which was $25,000 for 2003, has been increased to $100,000 effective for taxable years beginning after 2002 and before 2006. The increase is effective for 2003, 2004 and 2005. Thereafter, the limit returns to $25,000 unless there is further legislation to change the amount. Act Sec. 202(a), amending I.R.C. § 179(b)(1).