Sec. 6. Temporary increased expensing for relocating manufacturing to the western hemisphere
152 words·~1 min read·
/bill/117/hr/3309/ih/section-6A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of section 168(k) of the Internal Revenue Code of 1986, in the case of any qualified United States manufacturing property which is placed in service after December 31, 2020, and before January 1, 2026— such property shall be treated as qualified property (within the meaning of such section); the applicable percentage otherwise determined under section 168(k)(6) of such Code with respect to such property shall be— if placed in the United States, 100 percent; and if placed within a country in the Western Hemisphere, 60 percent; and paragraph
(8)of such section shall not apply. In this section the term qualified United States manufacturing property means a domestic corporation that is engaged in the business of manufacturing covered articles with property outside the Western Hemisphere that places in service tangible property within the Western Hemisphere. This section shall not apply to any property placed in service after December 31, 2025.