Jennifer Karpchuk and Alissa Gipson’s article, “Should More States Jump on Oklahoma’s Full Expensing Bandwagon"
In an article published on August 3, 2022 by Bloomberg Tax, Philadelphia-based Chamberlain Hrdlicka Shareholder Jennifer Karpchuk and Houston-based Associate Alissa Gipson discuss Oklahoma’s new full expensing law, which allows for full corporate income tax deductions for the cost of business asset expenditures, and whether other states will be following in their footsteps.
“Oklahoma’s change is historic because it becomes the first US state to authorize permanent full expensing,” explains Karpchuk and Gipson. “This, of course, poses the question: Should other states follow Oklahoma’s lead?”
The article also outlines the benefits and advantages as well as the potential drawbacks on this approach.
“Because of the benefits full expensing offers in attracting successful businesses to a state, other states should consider adopting Oklahoma’s approach,” they write. “However, the unpredictable outcome of a first-of-its-kind law may push states to watch and see for the time being.”
To learn more, view the full article here.