### Question
How does NORMAL TAXES AND SURTAXES define 50-percent bonus depreciation property?


### Answer
Under *26 U.S.C. § 168*, **50-percent bonus depreciation property** is defined as:

> property described in paragraph (2)(A)(i)—


(i) the original use of which commences with the taxpayer after May 5, 2003,


(ii) which is acquired by the taxpayer after May 5, 2003, and before January 1, 2005, but only if no written binding contract for the acquisition was in effect before May 6, 2003, and


(iii) which is placed in service by the taxpayer before January 1, 2005, or, in the case of property described in paragraph (2)(B) (as modified by subparagraph (C) of this paragraph) and paragraph (2)(C), before January 1, 2006

#### Citation:
  - *26 U.S.C. § 168*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VI-ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS**

