Capital Recovery Options under the Economic Recovery Tax Act of 1981: An Analysis of comparative Benefits.
研究了1981年经济复苏税法中两种资本回收选项的选择条件，发现企业资本成本和边际税率影响第一年费用扣除选项的选择，而资产处置年份和资本利得税率与普通收入税率之比影响直线法选项的选择。
Abstract By means of the Accelerated Cost Recovery System, The Economic Recovery Tax Act of 1981 [P.L. 97-34] narrowed the number of alternative methods available for "depreciation." It introduced several new options as well. Two of these options, the first-year expense deduction under Section 179 with an attendant loss of the investment tax credit, and the election to use the straight-line method for 15-year realty with recapture occurring under Section 1250, rather than under Section 1245, are examined here. Election of the first option is found to depend on the firm's cost of capital and marginal tax rate. Election of the second option is found also to depend on the same two variables (except for individuals, where the marginal tax rate is irrelevant as long as it is positive), and an additional one, the year in which disposition of the property occurs. The first year expense option is generally preferred for individuals and corporations having high costs of capital and high marginal tax rates. With respect to the straight-line election for 15-year realty, the straight-line method yields better economic results if the disposition year is relatively early and the ratio of the capital gain tax rate to the ordinary income rate is relatively small.