The Pennsylvania Department of Revenue issued Personal Income 税 Bulletin 2023-02 (the “Bulletin”) on August 3, 2023, allowing deductions from Pennsylvania Personal Income 税 for Section 179 Property (§179 Property).
Prior to the Bulletin, deductions for §179 property were capped at $25,000 annually. 公告将可用的§179财产扣除额增加到1美元,000,在1月1日或以后投入使用的物业，每年缴交$ 5,000元, 2023.
什么是第179条财产?
The Pennsylvania Legislature passed legislation bringing Pennsylvania into conformity with Federal 税 Rules effective January 1, 2023. The Federal Income 税 rules contained in the Internal Revenue Code include deductions for §179 Property. 在IRC中定义, §179 Property subject to depreciation includes most types of tangible property except land. Examples of tangible property include buildings, machinery, vehicles, furniture, and equipment. §179 property also includes intangible property such as patents, copyrights, and computer software.
Property must meet four requirements to be considered §179 depreciable property. These requirements include: the property must be owned by the individual or entity claiming the deduction, 该财产必须用于商业或创收活动, 该属性必须具有可确定的使用寿命, 而且房产的使用寿命必须在一年以上. The IRS has provided rules and examples for determining if a specific property is §179 property. 如果属性满足这些要求, it is considered deductible §179 property for both Federal and Pennsylvania Income 税 purposes.
宾夕法尼亚州对第179条财产的税收处理有什么变化?
The Department has determined that Pennsylvania 税payers can treat the cost of §179 Property as a currently deductible expense, 受特定限制. 纳税人可以要求扣减，以抵消净利润的收益, 或附表C收入, 用于个人所得税. §179 Property deductions cannot be used to offset gain from any other Pennsylvania income class.
§179 Property deductions are subject to dollar and business income limitations. §179 Property placed in service before 2023 has a maximum annual limitation of $25,000. 然而, the annual dollar limitation for §179 Property placed in service on or after January 1, 2023, 涨到1美元,000,根据每年的通货膨胀调整. The business income limitation prevents 税payers from using §179 deductions to reduce their 税able net profits below zero for any year.
Any amount of §179 Property deductions that cannot be utilized in a 税 year is carried over indefinitely to subsequent 税 years until the amount is exhausted. Partnerships and S-Corporations may elect to currently expense §179 Property at the entity level. 所有合伙人和股东必须遵循实体的选举, 并按比例获得税收减免.
第179条的变化对宾夕法尼亚州的纳税人意味着什么?
Pennsylvania 税payers with business net profits now have access to up to $1,000,从2023年纳税年度开始，企业扣除的金额为000美元. Entities and individuals subject to Pennsylvania income 税 with business net income should review purchases to determine if they qualify as §179 property subject to the deduction. 另外, 税payers may be able to immediately reduce their 税able income by placing §179 property into service rather than depreciating the property over its useful life following the normal Pennsylvania depreciation rules.
Schneider Downs’ 州税和地方税 (SALT) professionals are poised to help 税payers with the Pennsylvania §179 changes. 请联络斯蒂芬·沃斯((电子邮件保护))或Mark Balistrieri ((电子邮件保护)) with questions about Pennsylvania’s treatment of §179 deductions or other state and local 税 matters.
Schneider Downs’ 税 advisors have experience and expertise in a wide range of industries, including 汽车, 建设, 房地产, 制造业, 能源 & 资源, 高等教育, 盈利, 运输 和其他人. Our industry knowledge and focus ensure the delivery of technical 税 strategies that can be implemented as practical business initiatives.
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