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National Restaurant Association - 15-year depreciation schedule ends in 2011 if Congress fails to act

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15-year depreciation schedule ends in 2011 if Congress fails to act

The National Restaurant Association is working to get Congress to extend a critical tax benefit for restaurants beyond 2011.

Recognizing the heavy wear and tear that restaurant buildings sustain each day, current federal tax law allows restaurateurs to write off the cost of restaurant construction and restaurant-building improvements, including leasehold improvements, over 15 years. Congress has included the 15-year depreciation allowance in major tax bills over the past several years, but has never made it permanent.

The current depreciation schedule expires at the end of 2011 and reverts to 39.5 years starting in 2012 if Congress fails to act.

The National Restaurant Association is taking its case to Congress, urging lawmakers to act quickly to extend the shorter depreciation schedule beyond 2011.

The Association is also working to gather support for bills that would create a permanent 15-year schedule. H.R. 1265 has 40 cosponsors; S. 687 has 13 Senate cosponsors. If your member of Congress is not already a cosponsor, we urge you to contact them at (202) 224-3121 ask them to support the bills.

The NRA's depreciation issue brief provides more details on this issue.

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