NJ Bill Seeks Bonus Depreciation For Small Restaurants

New Jersey would allow nonchain restaurants with 100 employees or fewer to claim bonus depreciation for capital expenditures incurred as a response to the novel coronavirus pandemic, under a bill in the state Senate.

S.B. 3404, which Sen. Vin Gopal, D-Long Branch, introduced Thursday, would allow restaurants with two or fewer locations to claim bonus depreciation of up to $150,000 for money spent on capital expenditures to comply with virus regulations, including heat lamps and overhangs. 

If enacted, the bill would take immediate effect.

--Additional reporting by Jaqueline McCool. Editing by Vincent Sherry.

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