NRA Update: Restaurant Depreciation Victory! As you know, Congress passed and the President signed the Economic Stabilization Act of 2008 on October 3, 2008. In addition to provisions to stabilize the financial markets, the legislation included tax extension relief for businesses. In a major victory for the restaurant industry, the Emergency Economic Stabilization Act of 2008 legislates a 15-year depreciation schedule for new restaurant construction in 2009. In addition it extends the 15-year schedule for restaurant improvements in 2008 and 2009. (The provision also includes extension for leasehold improvements in 2008 and 2009, and owned retail building improvements at 15 years ... Full Story