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Section 179 Expensing Subtraction

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Section 179 expensing lets businesses deduct the entire cost of certain equipment on their federal tax return in the year of purchase (instead of deducting depreciation over multiple years). Minnesota limits this expensing on your state return to the amount allowable in 2003, when the federal limits first increased. You may need to add back part of your federal deductions for section 179 expensing.

If you made a Section 179 Expensing Addition on your Minnesota tax return, you’re allowed to recover that amount over the next five years by taking an income subtraction of 20 percent each year. Therefore, if you made the section 179 expensing addition for 2011 or later, you may subtract 20 percent of that amount from taxable income on your 2017 return.

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