Tax Resources and Acts
11/6/2009
For more information about the provisions mentioned in the article, see the following acts, provided by Philip Harris, University of Wisconsin ag law professor.
The Worker, Retiree, and Employer Recovery Act of 2008 (Recovery Act of 2008), Pub. L. No. 110-458.
Title I of Division B of the American Recovery and Reinvestment Act of 2009 (ARRA), Pub. L. No. 111-5, enacted Feb. 17, 2009.
Additional first-year depreciation: AARA § 1201; I.R.C. § 168(k)
I.R.C. § 179 expensing: ARRA § 1202; I.R.C. § 179
Five year recovery period: Tax Extenders and Alternative Minimum Tax Relief ACt of 2008, Div. C of Pub. L. No. 110-343, § 505; I.R.C. § 168(e)(3)(B)(vii) and (g)(3)(B)
Work Opportunity Credit (veterans and disconnected youth): ARRA § 1221; I.R.C. § 51
Energy Credits:
- Renewable production: ARRA § 1101; I.R.C. § 48
- Investment credit election: ARRA § 1102; I.R.C. § 48
- Repeal of credit limitation: ARRA § 1103; I.R.C. § 25C, 25D, 48, 48A, 48B
- Coordination with grants: ARRA § 1004, 1603; I.R.C. § 48
Energy credits for individuals: ARRA § 1121; I.R.C. § 25C
Credits for alternative-energy vehicles: I.R.C. 30B
Deduction of state tax on new vehicle: ARRA § 1008; I.R.C. § 56, 63, 164
Net operating loss and Income Averaging: I.R.C. § 172; I.R.C. § 1301; Treas. Reg. § 1.1301-1(d)(2)(i); instructions for Schedule J form 1040.
