MLchartDataset catalogue

MACRS

Term · Law · MLC-T-LAW-003108

The acronym for Modified Accelerated Cost Recovery System, the current depreciation system used for tax purposes in the United States. MACRS allows businesses to recover the cost of certain property over a specified period by deducting a portion of the cost each year. This system categorizes property into classes with predetermined recovery periods and depreciation methods, such as the 200% declining balance method.

Table 1. Record
IdentifierMLC-T-LAW-003108
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003108",
  "term": "MACRS",
  "field": "Law",
  "definition": "The acronym for Modified Accelerated Cost Recovery System, the current depreciation system used for tax purposes in the United States. MACRS allows businesses to recover the cost of certain property over a specified period by deducting a portion of the cost each year. This system categorizes property into classes with predetermined recovery periods and depreciation methods, such as the 200% declining balance method.",
  "url": "https://mlchart.com/terminology/law/macrs/"
}

Record 3,069 of 5,441 in Law terminology (MLC-0107). Request the full dataset.