Utah legislation has enacted Senate Bill S238 (effective 1/1/2014), which amends the definition of “noncapitalized personal property” to mean an item of tangible personal property that meets these criteria: (1) has an acquisition cost of $1,000 or less; and (2) a deduction is allowed under Code Sec. 162 or Code Sec. 179 in the year of acquisition, whether or not a deduction is actually claimed.
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