How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Merlo Your Own Question
Merlo, Accountant
Category: Tax
Satisfied Customers: 9783
Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
Type Your Tax Question Here...
Merlo is online now
A new question is answered every 9 seconds

Is there a minimal dollar amount in NJ for a capital expenditure

Customer Question

Is there a minimal dollar amount in NJ for a capital expenditure? I heard it was $500.00.
Submitted: 6 years ago.
Category: Tax
Expert:  Merlo replied 6 years ago.

Hello JA Customer,


A capital expenditure is incurred when a business spends money either to buy fixed assets or to add to the value of an existing fixed asset with a useful life that extends beyond the taxable year. A capital expenditure is not strictly determined by the purchase price paid for an asset or item. This concept is true in NJ and in any other state.


If there is a credit or something else in particular that you are inquiring about which is specific to the state of NJ, please let us know those details.


If this was helpful please press the Accept button. It is the only way we receive any credit for helping with these questions.


Thank you