TALLAHASSEE, Fla. — The Florida Restaurant & Lodging Association has applauded U.S. Representative Kendrick Meek (D-FL) for his support of a revised tax depreciation schedule for the improvement and new construction of restaurant buildings.
 
"On behalf of the thousands of small business restaurateurs and franchisees across the state of Florida, we appreciate Congressman Meek's leadership on this important issue," said Carol Dover, president of the Florida Restaurant & Lodging Association. "We encourage the House of Representatives to support this provision and are hopeful the extenders package will be passed in the next few weeks."
 
Under current tax laws, owners of most commercial buildings — restaurants included — depreciate the building's original cost, plus the cost of subsequent building renovations and improvements, over 39½ years. Congress has sped up the depreciation schedule for certain businesses, but not for restaurants.
 
H.R. 3622, a bill introduced in September, would provide a 15-year depreciation schedule for both restaurant improvements and new restaurant construction.

Related Content

User Comments – Give us your opinion!
Products & Services

Free Menu Board Media Player Promotion

http://global.networldalliance.com/new/images/products/6675.png

6675/Free-Menu-Board-Media-Player-Promotion

Quad Core Menu Board Media Player - $199

http://global.networldalliance.com/new/images/products/6679.png

6679/Quad-Core-Menu-Board-Media-Player-199

Chicken

http://global.networldalliance.com/new/images/products/6793.png

6793/Chicken

PCI Compliance Services

http://global.networldalliance.com/new/images/products/4892.png

4892/PCI-Compliance-Services

Operations Support

http://global.networldalliance.com/new/images/products/6409.png

6409/Operations-Support

Customized Menu Board Content

http://global.networldalliance.com/new/images/products/6689.png

6689/Customized-Menu-Board-Content

PeopleMatter HIRE™

http://global.networldalliance.com/new/images/products/4625.png

4625/PeopleMatter-HIRE

HAND-PINCHED STYLE® Sausage and Beef Toppings

http://global.networldalliance.com/new/images/products/6785.png

6785/HAND-PINCHED-STYLE-Sausage-and-Beef-Toppings

Luzianne iced tea

http://global.networldalliance.com/new/images/products/6957.png

6957/Luzianne-iced-tea

Sourcing

http://global.networldalliance.com/new/images/products/6407.png

6407/Sourcing

Digital Menu Boards and ROI
Fast Casual Executive Summit
Request Information From Suppliers
Save time looking for suppliers. Complete this form to submit a Request for Information to our entire network of partners.