Asbestos is found in rocks and soil. These mineral fibers have worked well for manufacturers for many reasons. For starters, theyâre flexible and resistant to heat, chemicals, and electricity. Thatâs why they were widely used for years to make construction materials, automotive parts, and even textiles.
A tax expenditure program is government spending through the tax code. Tax expenditures alter the horizontal and vertical equity of the basic tax system by allowing exemptions, deductions, or credits to select groups or specific activities.
A capitalized expenditure is primarily a tax term, reflecting depreciation for loss of value over a period of years. Confusion arises when capital expenditures become capitalized expenditures for tax purposes, as these are long-term business improvements requiring depreciation over several years.