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Special rules have also applied for bio fuel, recycling, and disaster assistance property. [9] Decoupling modification is a tax terminology resulting from the federal tax law enacted March 9, 2002, which created a new tax deduction for "bonus depreciation" that threatened to cost states very large amounts of revenue. [10]
The Accelerated Cost Recovery System (ACRS) was a major component of the Act and was amended in 1986 to become the Modified Accelerated Cost Recovery System. [1] [20] The system changed how depreciation deductions are allowed for tax purposes. The assets were placed into categories: 3, 5, 10, or 15 years of life. [21]
The fixed-base percentage is calculated by dividing the taxpayer's aggregate qualified research expenses by the aggregate gross receipts for taxable years beginning after December 31, 1983, and before January 1, 1989. [10]
The method used for determining revenue of a long-term contract can be complex. Usually two methods are employed to calculate the percentage of completion: (i) by calculating the percentage of accumulated cost incurred to the total budgeted cost; (ii) by determining the percentage of deliverable completed as a percentage of total deliverable.
Other countries define cost recovery as a long-term objective, such as in Mexico. In the case of private service providers tariff adjustment rules are often laid out in concession or lease contracts, often providing for indexation to inflation. In some developing countries, water tariffs are set at the national level.
Last year, the Internal Revenue Service (IRS) released data on the average federal income tax paid per income percentile. The top 1%, for example, paid 26% of their income in federal tax, while ...
In the utilities industry, the Prudent Investment Rule refers to a series of state standards which determine the fiscal soundness of a utility in the course of rate recovery for recoverable capital costs to be determined by that state’s Public Service Commission (PSC). The determination is established through a series of filings from the ...
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