Bipartisan Bill Offers Restaurants Depreciation Schedule

Law360, New York (March 13, 2014, 7:04 PM EDT) -- A bipartisan bill introduced in the House of Representatives on Thursday would make permanent a 15-year tax depreciation schedule for restaurant improvements and new construction, plus leasehold and retail improvements.

The Restaurant and Retail Jobs and Growth Act, introduced by Reps. Mike Kelly, R-Pa., Richard Neal, D-Mass., Jim Gerlach, R-Pa., and Ron Kind, D-Wis., is about creating predictability for an industry that serves 130 million guests per day, the lawmakers said.

“Encouraging companies to invest in themselves and grow will help create jobs and get our...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.