The Texas Comptroller of Public Accounts announced an immediate update to franchise tax depreciation rules to conform with the bonus depreciation provisions in the One Big Beautiful Bill Act of 2025. This update allows businesses to fully deduct the costs of qualifying fixed assets in the year of purchase, rather than over multiple years as previously required by the outdated 2007 IRC. [Tex. Comptroller of Pub. Accts., News Releases, 12/01/25]
This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.