Indiana Code 8-25-3-8. Purchase of equipment as an operating expense
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Terms Used In Indiana Code 8-25-3-8
- Personal property: All property that is not real property.
- Personal property: includes goods, chattels, evidences of debt, and things in action. See Indiana Code 1-1-4-5
Sec. 8. For purposes of this chapter, IC 36-9-2-2(b), and IC 36-9-4-58(b), the purchase of equipment or other personal property is considered an operating expense if the equipment or other personal property has a useful life of less than three (3) years.
As added by P.L.153-2014, SEC.17.