Leasehold Improvement Depreciation Act of 2007
Last action on Apr 24, 2007Referred to the House Committee on Ways and Means.
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Summary
Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property.
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