How The New Tax Law Bluebook Impacts Regulated Utilities

By David Burton and Anne Levin-Nussbaum (January 30, 2019, 7:26 PM EST) -- The recently released Joint Committee on Taxation's Bluebook explanation[1] of the Tax Cuts and Jobs Act[2] confirms that qualifying tangible property leased to a regulated public utility is eligible for the new 100 percent expensing rules, also called full expensing,[3] even if the property would not be eligible for full expensing if it were owned by the regulated utility. ...

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