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Decoupling modification is a tax terminology resulting from the federal tax law enacted March 9, 2002, which created a new tax deduction for "bonus depreciation" that threatened to cost states very large amounts of revenue.[1] Federal Bonus Depreciation, Section 168(k) of the Internal Revenue Code,[2] allows the acceleration of depreciation on federal tax returns, i.e., writing off a higher amount of depreciation for the first year an asset goes into service.[3] States that refuse to accept this method of calculating depreciation for state taxes, for example, Iowa and Maryland, publish forms with instructions so stating.[4][5]
