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Explain growth tax relief and reconciliation act of 2003

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Reference no: EM13508551

The Jobs and Growth Tax Relief and Reconciliation Act of 2003 amended the Internal Revenue Code by allowing an additional 50 percent bonus depreciation deduction in the year of acquisition. Does this mean that states immediately adopted this additional depreciation provision for computing taxable income for their state? Explain.

Reference no: EM13508551

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