Depreciation Allowance Bills Move in NJ

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Both reported from Senate committee, S.B. 3404 / A.B. 5218 seek to allow the owner of an alcoholic beverage manufacturer, among other business types, to use a bonus depreciation allowance of up to $150,000 for capital expenditures incurred within New Jersey to comply with the health and safety requirements of the Governor’s executive orders regarding the COVID-19 pandemic.