Recovery with a Hand from Uncle Sam

Battersby, Mark E.
February 2006
Metal Center News;Feb2006, Vol. 46 Issue 2, p4
Trade Publication
The article focuses on federal tax laws intended to help ease some of the financial problems caused to metal businesses by hurricanes Katrina and Rita. The Katrina Emergency Tax Relief Act of 2005 permits penalty-free withdrawal by service center owners from individual retirement accounts and other qualified retirement plans. Also, the Gulf Opportunity (GO) Zone Act, allows affected businesses to claim 50-percent first-year depreciation on GO zone property.


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