Delaware HB255 amends corporate and personal income tax provisions, adjusting depreciation and amortization rules for certain property.
Delaware HB255 amends Title 30 of the Delaware Code concerning corporate and personal income tax. It modifies the computation of taxable income for property acquired and placed in service after specific dates, allowing continued amortization and depreciation under prior United States Internal Revenue Code provisions. The changes apply to tax years beginning on or after January 1, 2022, and January 1, 2026, respectively.
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